Despite strong ratings—the show led late-night programming for nine straight seasons—CBS cited financial challenges as the reason behind the decision, not performance or content. Premiering in 2015 after David Letterman’s retirement, Colbert brought a politically sharp tone to late-night television, moving away from his satirical Colbert Report persona.
The show became a ratings powerhouse and a key platform for political commentary, celebrity interviews, and entertainment. Fans reacted with shock and disappointment, questioning why a top-rated show would be canceled. The move highlights shifting viewer habits, rising production costs, and increased competition from streaming.
Though The Late Show is ending, Colbert will continue his creative work with CBS, including producing After Midnight, a game show hosted by Taylor Tomlinson aimed at younger audiences.