Stephen Colbert's Departure from Late Night Signals Podcasting Boom
As Stephen Colbert exits 'The Late Show,' podcasts have the last laugh
Image: Deccan Herald
Stephen Colbert's exit from CBS's 'The Late Show' marks a significant shift in late-night television, as podcasts gain immense popularity. Former hosts like Trevor Noah and Conan O'Brien are thriving in the podcasting realm, attracting larger audiences and benefiting from creative freedom and financial advantages compared to traditional TV formats.
- 01Trevor Noah's podcast 'What Now? With Trevor Noah' boasts nearly 4.6 million YouTube subscribers, significantly surpassing his TV audience of 372,000 viewers.
- 02Podcasts are costing a fraction of television production, allowing comedians to retain ownership and profit from advertising and sponsorships.
- 03Ad spending on late-night television has fallen nearly 60% since 2017, while podcast advertising revenue has increased by 25% in the first quarter of the year.
- 04O'Brien's 'Conan O’Brien Needs a Friend' podcast ranks 15th among the top 50 podcasts in the U.S., with over 230 million downloads since its launch.
- 05Colbert is set to co-write a new film based on J.R.R. Tolkien's 'Lord of the Rings' instead of pursuing a podcast.
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Stephen Colbert's departure from CBS's 'The Late Show' signals a transformative moment in late-night television, as audiences increasingly shift towards podcasts. Comedians like Trevor Noah and Conan O'Brien have successfully transitioned to this medium, with Noah's podcast 'What Now? With Trevor Noah' attracting nearly 4.6 million subscribers on YouTube, far exceeding the 372,000 viewers he had on television. The financial landscape has changed dramatically; while Colbert's show reportedly lost up to $40 million annually, podcasts offer lower production costs and allow talent to retain ownership and profits from advertising and sponsorships. Ad spending on late-night shows has plummeted by nearly 60% since 2017, while podcast advertising revenue saw a 25% increase in early 2023. O'Brien's podcast ranks 15th among the top 50 in the nation, with over 230 million downloads since its inception. Meanwhile, Colbert is set to work on a film adaptation of 'The Lord of the Rings,' indicating his focus away from the podcasting trend.
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This shift towards podcasts may lead to changes in how audiences consume comedy and entertainment, potentially affecting traditional television networks and their advertising revenue.
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