CBS has announced that Stephen Colbert's late-night comedy show will end next May, citing financial considerations. The late-night TV landscape has changed, with advertising revenue dropping significantly from $439 million in 2018 to $220 million last year. Young male viewers, once a core demographic for late-night shows, are increasingly opting for streaming services over traditional broadcasts. The shift towards streaming services is evident, with Nielsen reporting that more viewers are consuming content on platforms like YouTube and Netflix than on major broadcast networks, indicating the changing dynamics of viewership and advertising in television.
Once a draw for young men, now they've turned away. Late-night TV was a particular draw for young men, considered the hardest-to-get and most valuable demographic for advertisers.
For the late-night genre, there are unique factors to consider. The television industry's declining economic health means similar hard calls are already being made with personalities and programming.
As recently as 2018, broadcast networks took in an estimated $439 million in advertising revenue for its late-night programs. Last year, that number dwindled to $220 million.
The Nielsen company reported that during the last two months, for the first time ever, more people consumed programming on services like YouTube and Netflix than on ABC, CBS and NBC or any cable network.
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