Report: CBS lost $20M on canceled ‘Late Late Show’ with James Corden.

Insider Claims “The Late Late Show” with James Corden Was Canceled Due to Massive Losses

An anonymous industry insider has claimed that CBS canceled “The Late Late Show” with British TV presenter James Corden due to massive losses, costing the network up to $20 million per year to keep the show on the air.

Corden, best known for his “Carpool Karaoke” skits, hosted the program for eight years before the final episode aired last week.

The Numbers Behind the Cancellation

The insider revealed that Corden was paid close to $5 million per year to host the show, while production costs were between $60-$65 million and profits topped out at $45 million. “It was simply not sustainable,” the source told ex-CNN anchor Brian Stelter. “CBS could not afford him anymore.”

To continue the show, Corden would have had to take a massive pay cut, and layoffs would have been necessary. Ultimately, it was decided that the show should end after 30 years on the air.

Corden’s Departure

Deadline reported in April 2022 that Corden would leave the show before summer 2023. According to the outlet, the network tried to keep Corden and offered him several contract extensions, which he declined.

“It’s been a really hard decision to leave because I’m so immensely proud of the show,” Corden told the publication. “I’m thrilled to be extending [for a year]. I always thought I’d do it for five years and then leave, and then I stayed on. I’ve really been thinking about it for a long time, thinking whether there might be one more adventure.”

CBS CEO George Cheeks said, “We wish he could stay longer, but we are very proud he made CBS his American home and that this partnership will extend one more season on ‘The Late Late Show.'”

The Final Episode

The “Late Late Show” finale included appearances from Harry Styles and Will Ferrell, plus Carpool Karaoke with Adele. President Joe Biden also delivered a video message. The final installment drew an average audience of 1.43 million viewers, which was its largest since 2021, according to The Wrap.

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Nielsen ratings show that when Corden debuted in 2015, he averaged around 1.6 million viewers per episode. This number dropped to about half in the final year.