The end of The Late Show with Stephen Colbert, an American institution since 1993, has left the remaining late-night hosts facing an uncertain future. Colbert, widely regarded as the best interviewer and strongest comedian in the format, was the highest-rated host and still lost his show. The franchise, founded by David Letterman, is now cancelled, prompting questions about the viability of network talk shows.
Colbert was part of "Strike Force Five", a group including Jimmy Fallon, Jimmy Kimmel, Seth Meyers and John Oliver — though Oliver is on HBO and only weekly. The reality is that network late-night shows are expensive and may not generate the revenue they once did. With viewers now watching on demand, the number of traditional talk shows is shrinking, even as the competitive landscape changes.
NBC's Saturday Night Live has managed to remain relevant, thanks to its live event status, sketch format, and YouTube-friendly content. However, it too is not immune: there is constant speculation that if Lorne Michaels retires, the network could cut the budget to increase profitability. The warning from Colbert's finale echoed this: "At some point, this may come for all our shows."
History suggests that format-breaking hosts such as Craig Ferguson and Conan O'Brien were among the first to go, while more conventional shows struggled to adapt. As late-night television evolves, the loss of its most talented host may signal a broader decline of the genre on network television.
