CBS was reported to be losing millions on James Corden’s late night show

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by Thomas Baraby

May 1, 2023 | 11:22 a.m

During James Corden’s long tenure as host, CBS’ “The Late Late Show” was reported to lose up to $20 million a year before it went off the air.

Cordon, the British humorist whose “Carpool Karaoke” skits made him so popular, signed on last week after eight years as host of “The Late Late Show.”

However, the program was “earning less than $45 million” against annual production expenses of $60 million to $65 million, according to sources. Cited by Los Angeles Magazine.

Former CNN anchor Brian Stelter, who wrote the article, reported that The Late Late Show had become “wildly unprofitable” before its end.

“It simply wasn’t sustainable,” an unnamed executive told Stelter. “CBS just can’t afford it anymore.”

Sources added that Corden “would have faced a multimillion-dollar pay cut, painful staffing cuts, or both” if the show continued with him as host.

And Corden presided over a star-studded finale to the show last Thursday, featuring an appearance by actor Tom Cruise, and the latest edition of “Carpool Karaoke” with singer Adele and final guests Will Ferrell and Harry Styles. CBS is shutting down “The Late Late Show” after nearly 30 years in production.

Corden’s exit from The Late Late Show was first revealed to be in April 2022, With a deadline report That he had extended his contract with CBS for another year marked the end of his more than eight-year career as host.

At the time, Corden said he made a “really difficult decision to leave”.

The report also said that CBS executives scrambled to keep him on the job, offering several contract extensions that he eventually turned down.

“My managers here at CBS have been incredibly supportive and very patient with me while I make this decision,” Corden told the outlet at the time.

CBS CEO George Cheeks added, “We wish he could stick around for much longer, but we’re very proud that he’s made CBS his home in America and that partnership will extend for another season of The Late Late Show.”

in 2019, reported variety Corden was paid in the $4 million to $5 million range during his first contract with CBS, but his salary “rose” with the success of the show.

The final episode of “The Late Late Show” drew an average audience of 1.43 million viewers — the most since 2021 and a 77% increase over the average through the current season, according to detour.