Conan O’Brien Declares the End of Late-Night TV — But Predicts a Bright Future for Stephen Colbert

During his Television Academy Hall of Fame induction on Saturday, legendary host Conan O’Brien made a bold proclamation: Late-night television, as we know it, is dying.

O’Brien, who helmed Late Night and The Tonight Show on NBC before hosting Conan on TBS for over a decade, used his acceptance speech to reflect on the state of late-night TV — and to make a striking prediction about Stephen Colbert’s next move.

“Yes, late-night television, as we have known it since around 1950, is going to disappear,” O’Brien stated.
“But those voices are not going anywhere. People like Stephen Colbert are too talented and too essential to go away.
Stephen is going to evolve and shine brighter than ever in a new format that he controls completely.”

The Decline of Late-Night Ratings

O’Brien’s remarks come at a pivotal moment for the genre. In 2025, Fox News’ Greg Gutfeld is dominating the late-night scene. His show, Gutfeld!, averaged 3.1 million viewers through July 20 — far outpacing traditional network competitors.

Here’s how other major shows compare in the same period:

• The Late Show (CBS): 1.9 million viewers
• Jimmy Kimmel Live! (ABC): 1.5 million
• The Tonight Show (NBC): 1.1 million
• Late Night with Seth Meyers (NBC): 751,000

The numbers reveal a clear shift: viewers are moving away from traditional network comedy, and legacy shows are struggling to keep up.

The End of The Late Show Era

Colbert, who took over The Late Show from David Letterman in 2015, is nearing the end of his tenure. CBS announced that the show will be canceled in May 2026, with no successor named.

While CBS cites financial losses — reportedly $40 million per year — as the main reason, many fans and political observers suspect a deeper motive. Colbert has long been a vocal critic of former President Donald Trump, raising speculation that Paramount, CBS’s parent company, may be attempting to mend political fences amid a high-stakes corporate merger.

Adding to the controversy: Trump sued Paramount, accusing CBS’s 60 Minutes of election interference during the 2024 presidential race. The case was settled, with Paramount reportedly paying Trump $16 million.

Colbert, never one to hold back, mocked the settlement on-air:

“I believe that this kind of complicated financial settlement with a sitting government official has a technical name in legal circles… it’s ‘big fat bribe.’”

Despite the backlash, CBS executives denied that Colbert’s political commentary played any role in the show’s cancellation.

Conan on the Future: “Stories Will Always Matter”

While O’Brien acknowledged the decline of the traditional late-night format, he struck an optimistic tone about the future of storytelling — regardless of the medium.

“Technology can do whatever they want. It can make television a pill. It can make television shows a high-protein, chewable, vanilla-flavored capsule with added fiber,” he joked.
“It still won’t matter — if the stories are good, if the performances are honest and inspired, if the people making it are brave and of goodwill.”

What’s Next for Colbert?

As the industry continues to shift toward streaming and independent platforms, Conan’s prediction about Colbert “shining brighter than ever” in a new, self-directed format may not be far off.

Whether he ends up creating his own digital show, launching a subscription-based platform, or leading a new form of political satire, one thing is clear: Stephen Colbert isn’t going anywhere.