CBS is navigating a new landscape in late-night television following the cancellation of The Late Show with Stephen Colbert. The network’s replacement, Comics Unleashed with Byron Allen, aired its first episodes and revealed a significant drop in viewership compared to Colbert’s tenure. On June 1, the show attracted 628,000 total viewers and 82,000 in the key 18-49 demographic, marking a 65% decrease from the same time slot last year.

In contrast, ABC’s Jimmy Kimmel Live! and NBC’s The Tonight Show Starring Jimmy Fallon both saw increases in their viewership. Kimmel’s show led the 11:35 pm time slot with 2.185 million total viewers, a 53% increase from the previous year, and a 178% rise in the 18-49 demographic. Fallon’s show also experienced growth, with a 10% increase in total viewers and a 14% rise in the key demographic.

Despite the lower ratings, CBS is not concerned due to the financial structure of Comics Unleashed. The show operates under a ‘time buy’ model, where Byron Allen’s company, Allen Media Group, pays CBS for the time slot and handles all production costs. This arrangement allows CBS to profit by selling commercial space, turning a previous $40 million annual loss into a $15 million profit.

CBS’s decision to cancel The Late Show was initially met with speculation about political motivations, as some critics suggested it was an attempt to appease President Trump during a merger with Skydance. However, CBS maintains that the move was purely financial.

As the late-night landscape shifts, CBS’s new model with Comics Unleashed reflects a strategic pivot towards profitability over ratings dominance.

Original reporting: KTBS 3 (Shreveport) — read the source article.