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Jimmy Kimmel has a theory about why late-night is dying, but he left out a big factor. Today’s show breaks it down.

“Late night is effectively done. Now the host wants to claim victim status and blame anyone but themselves,” Crowder said.

Similarly, just as people no longer buy records, late-night shows will soon come to an end. Rather than accept that, Kimmel has claimed it is not organic, and the industry is being taken out, as if he is some victim of government overreach.

“We’re not just dying of natural causes. We’re being poisoned.” He points to reports that, in 2023, CBS encouraged Colbert to sign a five-year contract. Colbert opted for three years instead. When CBS pulled his show two years into that contract, the explanation given was that it was losing significant amounts of money — reportedly $40 million a year. Why, Kimmel asks, would the network offer him a five-year deal in the first place if the show were hemorrhaging money? “Am I to believe that over the course of those two years, they suddenly started losing $40 million a year?” Kimmel says. “These are just made-up numbers.”

According to CBS, by removing Stephen Colbert’s show, the network has gone from a $40 million annual loss to $15 million in profit.

“The network can’t keep hemorrhaging money,” Crowder said.

Colbert’s salary was around $15 million. He had 200 employees and 24 writers. Kimmel, however, claims that move has nothing to do with finances.

When it comes to Kimmel’s show, he claims he is bringing in money.

“I can’t prove the theory here that Kimmel is absolutely losing ABC money, but I will explain why I am pretty confident in [that claim],” Crowder said.

According to Crowder, Kimmel’s salary is $16 million. Viewership is at 2.4 million on a good day and 2 million on a bad day. He has 250 employees. His budget is $120 million.

“If I were to estimate the losses for Kimmel, with all of the direct apples-to-apples comparison just on the show alone, I would bet he is losing ABC $60 million a year,” Crowder said. “At what point do you just take some accountability and go, ‘Turns out, I just suck?’”