Late-Night TV’s Summer Salvation

As summer descends on the late-night television landscape, NBC stands poised to take advantage of a rare opportunity to revitalize its struggling lineup. For weeks in June and July, Jimmy Fallon’s “Tonight Show” and Seth Meyers’ “Late Night” will be the only game in town, with their competitors, Stephen Colbert and Jimmy Kimmel, on summer vacation or hiatus.

This break from the usual late-night melee may seem like a blessing for NBC, but it’s also a double-edged sword. On one hand, the network has been booking high-profile guests to fill the void left by its absent competitors. The “Tonight Show” and “Late Night” have snagged impressive bookings, including members of the New York Knicks and stars from Christopher Nolan’s upcoming film, “The Odyssey.” However, these efforts highlight a deeper issue facing late-night TV: dwindling ad revenue.

Ad spending on late-night television has plummeted over the past few years. According to data from Guideline, ad revenue fell by nearly 60% between 2017 and 2025, dropping from $519.7 million to just $209 million. This decline is particularly alarming given that Kimmel’s show has managed to retain a larger share of audience since CBS canceled Colbert’s program in May.

The writing on the wall suggests that late-night TV as we know it may be rapidly becoming obsolete. Stephanie Dolan, principal at Deloitte, notes that “late night is not disappearing” but rather being replaced by new formats and platforms. Viewers are increasingly turning to online content and social media for timely conversations and culturally relevant commentary.

NBC’s efforts to bolster its late-night lineup may seem like a futile attempt to cling to a dying format. However, the network has shown an ability to adapt and innovate in recent years. By leveraging its existing talent and exploring new formats, such as video podcasts and online-only content, NBC may be able to find ways to monetize late night that don’t rely on traditional ad revenue.

One possible approach is to focus on creating content that’s available at all times of the day. As Dolan observes, “Younger consumers aren’t necessarily rejecting the fact that it’s great to watch somebody who’s funny or hear the commentary of the talking heads or listen to interviews.” By making late-night humor and commentary more accessible and shareable, NBC may be able to attract a new audience and revitalize its struggling lineup.

Ultimately, the success of NBC’s efforts will depend on its ability to innovate and adapt in a rapidly changing media landscape. As the network prepares to launch its revamped late-night lineup this summer, it would do well to remember that the old rules no longer apply. By embracing change and exploring new formats, NBC may be able to salvage late-night TV from the brink of irrelevance.

The fate of Jimmy Fallon’s “Tonight Show” and Seth Meyers’ “Late Night” hangs in the balance as they enter this critical summer period. With attention spans shorter than ever and ad revenue dwindling, NBC must be willing to think outside the box if it hopes to succeed.