Jimmy Kimmel Says Late-Night Shows Cost ‘Crazy’ $120 Million A Year: ‘There Are Different Ways’
When CBS fired Stephen Colbert, claiming that his Late Show was losing tens of millions of dollars a year, rival/pal Jimmy Kimmel called bullshit. “The idea that Stephen Colbert’s show was losing $40 million a year is beyond nonsensical,” he griped to Variety. “There’s just not a snowball’s chance in hell that that’s anywhere near accurate.”
But in a new interview with Deadline, Kimmel admits that shows like Jimmy Kimmel Live! cost in the neighborhood of $120 million a year. That price tag gives networks an easy excuse to get rid of late-night shows altogether, and Kimmel admits they could be done on smaller budgets. “I don’t think there’s a reason for these shows to go away,” he said, suggesting “there are different ways” the model could work.
Look to the early days of late night for a clue. “These shows started out because they were a way to get high-priced talent for almost free. That was the whole trick. That was the whole reason they started these shows. It was deemed to be promotional,” he argued. “So, the idea that these shows need to cost $120 million is crazy.”
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The early days of late-night usually involved a funny host and a self-promoting celebrity having a conversation across a desk or coffee table. Sound familiar? That's the model that modern podcasts use to rake in big bucks. Take away the 10-piece bands, the prop-heavy game-show stunts and the pretaped bits jumping out of planes with Tom Cruise, and all of a sudden, late-night is a money-maker again.
Like comedian podcasts, Kimmel’s show is tremendously popular on YouTube, but he believes that might be part of the problem. “I’m very, very conscious of the fact that ABC pays for the show, and YouTube pays nothing, and YouTube gets to sell it and keep half the money,” he said. “That’s quite a deal for them.”
The comedian loves the online views (“All you really want, deep down, is for as many people to see your stuff as you can”), but he knows social media clips diminish traditional ratings. “Maybe that’s kind of what has killed late-night TV.”
If lower ratings mean fewer profits, how can future shows like Jimmy Kimmel Live! cut costs? The biggest line item, of course, is the host salary. Kimmel reportedly makes around $15 million a year, more than 10 percent of that $120 million budget. Is he ready to walk away from that kind of cash? Kimmel has threatened retirement several times in recent years, but this time, he’s keeping his trap shut.
“I often answer that (retirement) question, and then I do the opposite of what I said previously,” he said, admitting he’s claimed to be on his last contract each of the last three times he’s signed one. “So, I’ve learned not to say anything anymore, because it upsets my staff.”
