James Corden’s Late Late Show was ‘losing up to $20m a year’ before it ended: ‘It was simply not sustainable’
The Late Late Show with James Corden had been losing as much as $20m (£16m) a year before it reached its conclusion this week, according to a new report.
The British presenter hosted his final episode of the CBS chat show last Friday (28 April), following an eight-year run.
Corden previously revealed that his family was behind the decision to quit the show, so he could move back home to the UK, however, the show may have also been on the cusp of a financial reckoning.
In a new Los Angeles Magazine report, former CNN anchor Brian Stelter writes that The Late Late Show was earning less than $45m (£36.1m) against a $60m to $65m (£47.8m to £51.8m) annual budget.
“It was simply not sustainable,” one unnamed executive reportedly told Stelter. “CBS could not afford him anymore.”
Citing sources who worked closely with the host, Stelter added that even if Corden decided to keep his position, he would have faced “a multimillion-dollar pay cut or painful staff reductions”.
The Independent has contacted CBS for comment.
Corden’s swang song on the show included a Carpool Karaoke special with Adele, one ridiculous final stunt with Tom Cruise, and chats with guests Will Ferrell and Harry Styles.
The presenter concluded with a warning for America to remember “what it signifies”.
“I’ve struggled to find the words to sum up what this past eight years have meant to me,” Corden said.
“We started with Obama, then Trump, then a global pandemic. I’ve watched America change a lot over these past few years, I’ve watched divisions grow, I felt a sense of negativity.
“I guess all I really want to stay is, I implore you to remember what America signifies to the rest of the world. My entire life, it’s always been a place of optimism and joy. Sure, it has flaws. Show me a country that doesn’t… every single one of us is a work of progress.”
Find the full lowdown on Corden’s last show here.