The first major ratings snapshot after Stephen Colbert’s late-night exit shows the audience consolidating around the two remaining 11:35 p.m. broadcast shows, with Jimmy Fallon picking up the sharper demo gain.
Figures reported by TheWrap show The Tonight Show Starring Jimmy Fallon grew its 18-49 audience by 34% over the first three weeks of the current run, compared with the same period last season. Total viewership rose 3% across linear and streaming.
The social side is running far ahead of the linear number. The show now counts more than 127 million subscribers and followers and generated over 8 billion views on social platforms in the past 12 months. That keeps it as the No. 1 late-night talk show on social.
By the numbers
- 34%: lift in the 18-49 demo, first three weeks
- 3%: total viewership lift in the same window
- 127 million: current social subscribers and followers
- 8 billion: social views over the past 12 months
- 2 million: Jimmy Kimmel Live! average weekly viewers in 2025-26, its best in eight years
A slot with one less competitor
The comparison period matters. The Late Show with Stephen Colbert ended in May after 11 seasons, removing a direct rival from the 11:35 p.m. ET/PT slot. Late Night with Seth Meyers airs an hour later at 12:35 a.m., outside this direct competition set.
Kimmel is also benefiting. ABC’s Jimmy Kimmel Live! averaged 2 million total viewers per week in the 2025-26 season, its most-watched season in eight years, and its fall return delivered its strongest adult-demo performance in four years.
The Tonight Show is produced by Universal Television and Broadway Video, with Lorne Michaels as executive producer. New episodes air on NBC at 11:35 p.m. ET/PT and stream the next day on Peacock.
Why the demo gain matters
For media planners, the 34% demo increase is more valuable than the 3% total lift. Late-night advertising is still sold on younger adult audiences; the demo is where Fallon’s show carries premium value. With fewer broadcast options in the slot, NBC can argue that the audience has fewer places to go, which supports stronger pricing conversations for remaining inventory.
Social reach is the second business. Eight billion views in a year means the show monetises short-form clips well beyond its nightly linear and Peacock window, giving sponsors exposure that television ratings alone do not capture.
What to watch
Do not overread the total-viewership number as a comeback. This season’s comparisons are against a period when Colbert was still on air; next season’s baseline will be the post-Colbert market. The test is whether Fallon holds these demo gains once the comparison reset arrives. That makes the demo trajectory the key input, not the raw total.
Source: TheWrap
