The gilded throne of American late-night television is shaking, as two of its biggest stars, Jimmy Kimmel and Stephen Colbert, face a financial and viewership catastrophe. A devastating report has revealed the duo's flagship shows have collectively lost a jaw-dropping $40 million in advertising revenue over the past year, a clear signal that the era of broadcast dominance is crumbling.
The Staggering Numbers Behind the Decline
The figures paint a bleak picture. Jimmy Kimmel's long-running ABC show, Jimmy Kimmel Live!, has been hit particularly hard, with its audience plummeting by a massive 23%.Stephen Colbert, who once reigned as the undisputed king of late-night on CBS's The Late Show, hasn't been spared either, suffering significant viewer erosion. This exodus isn't just a blow to prestige; it's a direct hit to the bottom line, with advertisers slashing their investments in the once-lucrative time slots.
The Real Culprit: The Streaming Revolution
Industry analysts point to one overwhelming factor for this decline: the seismic shift in how audiences consume content. The convenience and on-demand nature of streaming platforms like Netflix, YouTube, and TikTok are systematically dismantling the traditional appointment-viewing model. Why stay up for a monologue at 11:35 PM when a curated feed of endless entertainment is available instantly?
This trend is not just isolated to Kimmel and Colbert; it represents an existential crisis for the entire network late-night format. The old guard is struggling to compete with the algorithmic precision and global reach of digital rivals.
Network Panic and a Glimmer of Hope
In a desperate bid to staunch the bleeding, networks are scrambling for solutions. ABC has taken the radical step of offering advertisers make-good spots—free additional ad time to compensate for the shows failing to meet guaranteed audience numbers. This is a stark admission of failure in the high-stakes world of television advertising.
Yet, it's not all doom and gloom. Some industry voices suggest this is a necessary market correction. The inflated ad rates of the past are finally aligning with the actual, smaller—but arguably more dedicated—audience that remains. The challenge for Kimmel, Colbert, and their peers is to adapt, innovate, and find new ways to monetise their content in a fragmented digital landscape.
One thing is certain: the comfortable, highly profitable world of late-night TV has been irrevocably disrupted. The kings of the 11:30 PM slot must now fight for their crowns.
