Colbert signs off as CBS ends Late Show era

Colbert signs – Stephen Colbert’s final “Late Show” drew 6.74 million viewers live on May 22, capping an 11-year CBS run that began after David Letterman. CBS is already moving the timeslot to “Comics Unleashed,” as Colbert pointed to streaming competition and business-model

When the lights went out in the Ed Sullivan Theater. it felt less like a television wrap-up and more like a door closing. On May 21. Stephen Colbert taped his final “Late Show” for CBS. then signed off in an episode packed with celebrity turns and playful absurdity. including Paul McCartney singing “Hello Goodbye” and a wormhole that pulled Colbert into oblivion.

The live audience never dimmed. CBS said on Friday, May 22, that 6.74 million viewers tuned in live to watch Colbert end “The Late Show with Stephen Colbert” for the last time.

It was an emotional sendoff for a franchise that traces back to David Letterman, and it also landed in a ratings conversation that the industry treats like a barometer for late-night relevance. The May 21 finale drew more viewers than Colbert’s debut on the network back in 2015.

When Colbert’s version of “The Late Show” premiered on Sept. 8, 2015, it averaged 6.55 million viewers. By 2026, he was averaging 2.96 million viewers per episode when including delayed viewing, leading the pack of network TV late-night shows. ABC’s “Jimmy Kimmel Live!” averaged 2.53 million viewers. while NBC’s “The Tonight Show Starring Jimmy Fallon” sat at the bottom with 1.33 million.

Colbert did not beat his own personal high-water mark. “Late Show” aired a post-Super Bowl episode on Feb. 7, 2016, with a 10:54 p.m. start time, and that edition drew 20.55 million viewers.

Still, those numbers were far from isolated. Late-night performance is often measured against Fox News’ “Gutfeld,” a political comedy and talk show that airs at 10 p.m. in the primetime window, where more viewers are simply awake and available across network and cable. In that context, “Gutfeld” hovers around 3 million viewers. Shows like “Chicago PD” on NBC or “Boston Blue” on CBS routinely draw 3 or 4 million viewers at 10 p.m.

Within the network late-night space, Kimmel’s trajectory also matters to the comparison. After a week off the air that included wall-to-wall news coverage. tweets from President Donald Trump. ABC facing harsh criticism from celebrities. politicians and international figures. and public statements from network affiliate owners and the chair of the FCC. Kimmel returned to an audience of 6.26 million viewers.

Now CBS is moving on. After 11 years helmed by Colbert, CBS plans to fill “The Late Show” timeslot with the syndicated comedy panel show “Comics Unleashed with Byron Allen,” premiering May 22 on weekdays at 11:35 p.m. ET/PT.

In his final, emotional show, Colbert—62—taped and aired on May 21—walked out with no preamble or opening sketch. He said he wanted to speak directly to the audience in the studio and at home, delivering a short but affecting speech thanking his crew and his audience.

After those remarks. the episode moved into its finale rhythm: quickly edited clips poking fun at himself. the opening credits. and Colbert returning for a more “normal” show. The monologue leaned into jokes about sinkholes and hantavirus in the news. with surprise appearances from celebrities including McCartney. Ryan Reynolds. Bryan Cranston and Paul Rudd. In the final moments, Colbert and McCartney turned out the lights in the Ed Sullivan Theater.

The curtain came down long after Colbert first told viewers to brace for the end. The finale arrived 10 months after he announced that “The Late Show” had been canceled on July 17, 2025. He told his audience he’d learned the show’s end over the phone, just the night before.

At the time CBS’ parent company—formerly Paramount Global and now Paramount Skydance Corporation—described the decision, it said the choice was “purely a financial decision against a challenging backdrop in late night.”

But Colbert suggested the debate went beyond spreadsheets. Some suspected his criticisms about Trump played a role, and Colbert described Paramount’s $16 million payment to Trump over a “60 Minutes” interview as a “big fat bribe.”

In a recent New York Times interview, Colbert addressed the cancellation in broader terms. “It’s possible that two things can be true,” he said. “Broadcast can be in trouble. They cannot monetize because of things like YouTube, because of the competition of streaming. They’ve got the books. and I do not have any desire to debate them over what they say their business model is and how it does not work for them anymore.”.

For now. the numbers and the headlines close the chapter the way TV executives measure most things: with viewership and the next slot already scheduled. CBS’s late-night lineup is changing. but Colbert’s final evening—framed by 6.74 million live viewers and capped by a lights-out moment with McCartney—reminded audiences that even business decisions carry consequences people can feel in real time.

Stephen Colbert The Late Show CBS late-night ratings Ed Sullivan Theater Paul McCartney Comics Unleashed Byron Allen streaming competition Jimmy Kimmel Live Gutfeld