Late-night television has spent the last year insisting that Stephen Colbert’s departure from The Late Show was a political story. CBS has spent the same period insisting it was a financial one.
Now Jimmy Kimmel is openly challenging that explanation.
In a lengthy interview with Vulture following Colbert’s final broadcast in May, the Jimmy Kimmel Live! host questioned CBS’s claim that The Late Show had become such a financial burden that it had to be shut down. Rather than accepting reports that the program was losing tens of millions of dollars annually, Kimmel suggested the numbers simply do not add up.
The comments come as late-night television continues to struggle with shrinking audiences, declining advertising revenue, and an entertainment landscape that has shifted dramatically toward streaming, podcasts, YouTube, and social media.
Jimmy Kimmel Says CBS’s Numbers Don’t Make Sense
While discussing the cancellation of The Late Show, Kimmel pointed to reports that CBS had extended Colbert’s contract in 2023 despite allegedly losing roughly $40 million per year on the program.
Kimmel appeared skeptical of that explanation.
“Am I to believe that over the course of those two years, they suddenly started losing $40 million a year?” he asked. “These are just made-up numbers.”
That statement cuts directly against the narrative CBS has maintained since announcing the end of the franchise.
Stephen Colbert as a guest on Jimmy Kimmel Live! – YouTube, Jimmy Kimmel Live!
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The network has repeatedly stated that Colbert’s departure was the result of economic realities rather than politics. However, critics of the decision have questioned whether the timing had anything to do with Paramount’s merger with Skydance and ongoing scrutiny involving federal regulators.
Kimmel clearly falls into the camp that is unconvinced by the official explanation.
Kimmel Says Late-Night Television Is Being “Poisoned”
The ABC host also pushed back on the idea that late-night television is simply fading away because audiences no longer care.
According to Kimmel, the traditional ratings conversation ignores how audiences now consume content online.
“More people are watching late-night TV than there ever were,” Kimmel insisted.
Jimmy Kimmel on Colbert – YouTube, The Late Show With Stephen Colbert
He argued that clips distributed through YouTube, social media platforms, and other digital channels dramatically expand the audience beyond what traditional Nielsen ratings capture.
Yet despite that belief, he admitted Colbert’s exit left him discouraged.
“I feel a little bit defeated by it. In a lot of ways, I feel like I’m looking at my own future.”
Kimmel then delivered perhaps the most dramatic line from the interview: “We’re not just dying of natural causes. We’re being poisoned.”
The remark suggests Kimmel believes forces outside the normal evolution of television are accelerating the decline of the format.
The Bigger Question Facing Late Night
Kimmel’s frustration may resonate with his fellow hosts, but it doesn’t necessarily answer the financial questions surrounding late-night television.
While clips from shows routinely generate millions of views online, those views often produce far less revenue than traditional television advertising. Networks are increasingly focused on profitability rather than cultural influence, and many executives have concluded that expensive nightly talk shows no longer deliver the returns they once did.
That’s what makes Kimmel’s comments so notable.
Jimmy Kimmel appears on Stephen Colbert’s show – YouTube, The Late Show With Stephen Colbert
He isn’t merely mourning Colbert’s departure. He’s openly rejecting the explanation that many media executives have provided for it.
At the same time, Kimmel acknowledged that even his own future appears uncertain. Although ABC recently extended his contract, the renewal reportedly lasted only one year rather than the multi-year deals that had become standard throughout his career.
According to Kimmel, that shorter extension reflects just how unstable the television business has become.
Jimmy Kimmel Crying – YouTube, Jimmy Kimmel Live!
Whether viewers agree with him or not, one thing is clear: Kimmel is not buying the argument that The Late Show suddenly became a financial disaster overnight.
Do you think Kimmel is right about Colbert? Sound off in the comments and let us know!
