Lorne Michaels' Departure: Will SNL's Legacy Be NBC's Next Sacrifice?

SNL on the Chopping Block: Will NBC Axe Lorne Michaels' Legendary Show?

In a bombshell prediction, media expert Robert Thompson has forecasted that Saturday Night Live (SNL) could be the latest casualty of NBC's financial woes. With its creator and producer, 80-year-old Lorne Michaels, rumored to be on his way out, the network may see an opportunity to cut ties with the money-losing show.

Thompson, founder of the Bleier Center for Television and Popular Culture at Syracuse University, made the prediction after Stephen Colbert's talk show was canceled by CBS. He believes that NBC will consider axing SNL, as well as Michaels' other shows on the network, including The Tonight Show Starring Jimmy Fallon and Late Night With Seth Meyers, when the mogul finally retires.

Speaking to thescholarlynote.com just days after CNBC revealed that SNL, Fallon, and Meyers lose a combined $100 million annually, Thompson said, "Lorne Michaels can't keep doing that forever. If he decides to retire or can no longer do those shows, NBC would be in an interesting position."

Thompson pointed out that the network would have the chance to exit the late-night game altogether, rather than trying to overhaul each individual program. "It would be the easiest time to say, we had a good run," he added.

But what makes SNL and its stablemates so vulnerable? Thompson blames it on the challenge of replacing Michaels, who has been a driving force behind the show since its inception in 1975. "It would be a big commitment to stay in the late-night game without him," he said. "I'm not sure the people at NBC have that."

Despite being one of the most iconic and influential shows on television, SNL remains a financial burden for NBC. With production costs reaching $4 million per episode, or around $100 million annually, the show is struggling to break even despite its massive popularity. According to CNBC, SNL attracts around 8 million live viewers per episode, as well as millions more through streaming and social media.

However, an insider disputed the $100 million loss figure, claiming that other revenue streams, such as digital advertising, bring in a significant amount of money. While this may be true, it's clear that the show is still struggling to cover its costs with traditional advertising, which has declined across the board as viewers increasingly turn to streamers.

The axing of The Late Show with Stephen Colbert earlier this month sent shockwaves through the media industry, breaking a long-held taboo about canceling high-profile talk shows. With Colbert's show reportedly losing $40 million annually, CBS may have set a precedent that makes it easier for NBC and ABC to cut ties with their own loss-making shows.

Late Night with Seth Meyers, meanwhile, is averaging around 900,000 total viewers this year, while Fallon's Tonight Show rakes in 1.19 million viewers on average. However, despite airing an hour earlier than rival Jimmy Kimmel's show, Fallon still trails behind in the ratings.

Kimmel's show doesn't cover its costs from regular TV advertising, but it is profitable when other revenue streams are taken into account. This raises questions about why NBC and ABC continue to prop up their struggling late-night shows, rather than axing them altogether.

The move to cancel Colbert's show has sparked allegations of political maneuvering, with some suggesting that CBS may have been trying to placate President Donald Trump after settling a $40 million lawsuit with him. However, multiple insiders insist that Colbert is flattering himself if he thinks his show was canceled for the same reason.

SNL, Fallon, Meyers, and Kimmel have all faced criticism from Trump, who has accused them of making jokes at his expense. While this may be seen as a badge of honor by some, it's possible that their constant bashing of the president may ultimately hasten their demise.

As one insider put it, "Their obsession with trashing Trump may keep conservative viewers away, but it also bores loyal liberal viewers who are fed up with hearing the same monologues every night." With the media landscape changing rapidly and audiences increasingly turning to streamers, it's clear that NBC will have to make some tough decisions about its late-night lineup.

Will SNL be the next casualty of NBC's financial woes? Only time will tell, but one thing is certain - the network will need to think carefully before cutting ties with Lorne Michaels' legendary show.