American comedian and podcast host Zack Peter recently reacted to Stephen Colbert’s late-night show getting cancelled by CBS. According to BBC, The Late Show With Stephen Colbert will end its run in May 2026 after thirty-three years of being on air. This announcement notably came from the CBS television network via a statement last week, on Thursday, July 17, 2025.On Saturday, July 19, 2025, Zack Peter took to his YouTube channel and opined his view after CBS allegedly canned Stephen Colbert’s late-night show over tens of millions in financial losses annually. Detailing the network’s decision to cancel The Late Show, the media personality said:“Colbert got cancelled, and people kind of seemed to be torn about it… Late Night has been dying. He his show he announced is set to end in May of 2026… He's reportedly or the show has reportedly been losing money, losing $40 million per year. So, it kind of seems like they were continuing to put the show on as some sort of vanity project, or it's uncertain what was the motivation to keep the show going, but at the end of the day, it didn't last.”During his live stream, the 32-year-old talked about CBS's statement, which said the show's cancellation wasn't political and that they enjoyed working with Stephen Colbert. Zack Peter noted how the network showed the move was a purely “financial decision” against the challenging backdrop in late night, and added:“They have a good point. I know people want to make it out to be a bigger scandal, and I'm not saying that it's not, but late night is dying. If you think about talk shows in general are dying. Nobody really watches talk shows or late-night shows the way that they used to, where people would wait up to watch them.”Meanwhile, according to The New York Post, CBS brass revealed they had to pull the plug on Stephen Colbert’s late-night show due to financial losses, pegged between $40 million and $50 million a year.Zack Peter claims audience prefer social media “clips” over CBS airing of Stephen Colbert’s late-night showDuring his live stream on Saturday, Zack Peter discussed the shift in people’s preferences for watching late-night shows. He claimed:“Now people just watch the clips on YouTube. They watch the clips on TikTok. Like that's where people are now consume. Like, I don't remember the last time I watched a full talk show. Now I just like to watch the clips on social media cuz they're short, they're easy. It's, you know, tailored to exactly what I'm looking for.”Peter also explained the shift of Bravo moving everything to “streaming networks and streaming numbers” and Peacock doing the same with all their networks. He explained audiences consume more entertainment on streaming platforms such as Hulu, Netflix, HBO Max, and Apple TV, rather than TV. View this post on Instagram Instagram PostMeanwhile, Zack Peter also recalled Stephen Colbert speaking out against the Tiffany Network. As per The New York Post, the 61-year-old recently took a dig at Paramount over its $16 million settlement with US President Donald Trump over a controversial “60 Minutes” interview with Kamala Harris.Stephen Colbert’s The Late Show franchise has existed for more than three decades. Colbert, as well as the show’s run, will end in May next year after his contract expires.