The End of Late Night TV: Lessons for Tech and Venture Capital from Its Collapse.

CBS didn’t just cancel The Late Show with Stephen Colbert. They shuttered a format that for decades defined cultural prime time because the economics stopped working. In 2020, Colbert’s show employed 200 people, cost roughly $100M a year to produce, and brought in $120M; a modest $20M profit. By 2024, revenue had been cut in [ ]