In mid-July, CBS announced the cancellation of The Late Show with Stephen Colbert. While The Late Show was #1 in the ratings, I believe Samantha Bee’s assessment that late-night shows are “hemorrhaging money” when it comes to advertising. The model is outdated, and the audience simply isn’t there for “a white guy recapping the day and telling jokes to camera.” The audience IS there for a TV host who can create viral moments and easy clips which will be popular on YouTube. Which is why Jimmy Fallon still has a job as host of the Tonight Show. According to Page Six, Fallon and the Tonight Show are safe until at least 2028.

Jimmy Fallon’s late night spot at NBC is safe – for the moment – after signing an extension to his multi-million-dollar contract until 2028. The host will continue to lead “The Tonight Show Starring Jimmy Fallon” while also hosting his new reality show, ‘On Brand’ which debuts next month and appearing on “Password.”

It comes as nighttime talk shows are in the crosshairs, with Stephen Colbert’s “The Late Show” axed by CBS and others in the under-performing bracket said to bracing for shake ups or cancellation. Fallon and his fellow NBC late night host, Seth Meyers, have also had to take hits.

“Seth and Jimmy had budget cuts last year, which saw Jimmy go from five days a week to four days,” pointed out an industry insider, “He records Monday through Thursday and the show repeats on Friday.”

Meanwhile, the “Late Night With Meyers” house band was axed to cut costs. Late night viewership has been impacted by the rise in social media use, particularly with the younger demographic, and cries that it has become desperately partisan — filled with Democrat-party-approved liberal guests across the board.

Colbert announced CBS had pulled the plug on his show last month and the show will end in May 2026. Some raised eyebrows at the timing as it came after Colbert criticizing his network for paying $16 million to settle a defamation case with President Donald Trump, as the company is also in the middle of a merger.

A CBS source told Page Six: “While his staff liked him, corporate didn’t … and Colbert’s contract was up… so it was a perfect storm.”

[From Page Six]

I think all of this is true, plus what I said about Fallon creating content for YouTube and social media. That’s how Fallon gets away with keeping his job even though he’s a terrible interviewer too. While he can’t settle down and have a serious conversation with a guest (like Colbert can), Fallon is good at coaxing celebrities to play stupid games. Plus, I think within the late-night landscape, The Tonight Show is simply seen as more of an “institution” than The Late Show. NBC might lose money (I imagine they’re aiming for “breaking even”) but they’ll be more reluctant to outright cancel the Tonight Show in any way.

Photos courtesy of Avalon Red.