Final Episode Details and Network Context
The last episode of The Late Show with Stephen Colbert aired on CBS in 2025, marking the end of his tenure as host of the flagship late night talk show. The episode was produced by CBS Studios and aired in the United States on CBS and Paramount+ with a standard late night broadcast window starting around 11:35 p.m. Eastern Time. The show is part of the broader late night television lineup that competes directly with NBC's The Tonight Show and ABC's Jimmy Kimmel Live. CBS official show page lists the program as a weekly talk and variety format with a desk-based monologue, guest interviews, and musical performances.
Stephen Colbert signed a multi-year extension with CBS that kept him hosting The Late Show through 2025, and the final season was produced under the same production framework used for previous seasons. The show is filmed from the Ed Sullivan Theater in New York City, with production handled by CBS Studios and executive oversight from network leadership. The final episode included a mix of longtime collaborators, surprise guests, and retrospective segments highlighting key moments from the run. CBS official show page provides episode guides and credits for the final season.
Ratings, Audience Metrics, and Competitive Position
The Late Show with Stephen Colbert remained one of the highest-rated programs in late night television during its final season, with total viewership and key demo figures tracked by Nielsen and reported by industry outlets. In the final months, the show competed for audience share against The Tonight Show and other late night programs, with its performance measured by both linear broadcast ratings and streaming views on Paramount+. Nielsen ratings data is used by advertisers and networks to compare late night programs across total viewers and the 18-49 demographic.
Advertising revenue for The Late Show is tied to CPM rates, audience delivery guarantees, and the show's position within the CBS late night schedule. The final season's ad load and pricing were influenced by the show's sustained audience levels and its status as a flagship CBS property. Forbes business coverage regularly reports on late night advertising trends, including how networks monetize talk shows and how streaming integration affects total reach.
What Comes Next for Stephen Colbert and CBS Late Night
After the final episode, Stephen Colbert's next projects are expected to include a mix of production deals, potential new formats, and appearances across CBS and other platforms. The Ed Sullivan Theater remains a key production asset for CBS, and the network is evaluating its late night lineup strategy for the next cycle. SEC filings from CBS parent company Paramount Global include disclosures about programming costs, restructuring, and strategic priorities that affect late night scheduling decisions.
CBS Studios continues to manage production contracts, talent agreements, and rights related to The Late Show library, including digital and international distribution. Industry analysts track how the network replaces the final Colbert episodes with new late night programming or alternative formats. Forbes business coverage provides ongoing reporting on media company strategies, including how CBS and Paramount Global approach late night programming transitions.