00:00Today on Forbes, the highest-paid TV host of 2025.
00:05The structural decline of linear television is on full display in late night.
00:10For decades, the shows were reliable cash cows for the networks,
00:14but in recent years, analysts estimate that none turn a profit.
00:19In July, CBS made the abrupt decision to cancel the late show with Stephen Colbert,
00:24citing $40 million in losses per year.
00:27Both ABC and NBC trimmed budgets in fall of 2024 by moving to four nights per week,
00:34whether or not their hosts wanted to or not.
00:37Tonight's show host Jimmy Fallon tells Forbes,
00:40Still, a late-night talk show gig comes with a salary that places Fallon and Jimmy Kimmel,
00:50both worth $16 million, and Stephen Colbert, worth $15 million,
00:55among the highest-paid hosts on television according to Forbes' estimates.
01:00Even in its diminished state, linear television still generates significant revenue for networks,
01:06and it's the talent from categories like late night, morning shows, primetime news, sports, and lifestyle
01:12who remain TV's biggest stars.
01:15Combined, the top 25 hosts earn an estimated $582 million.
01:21But with late-night extinctions seemingly on the horizon,
01:26it's almost certain that this generation of TV stars will be the last mega-earners the medium ever produces.
01:33Most of the top 25 hosts have been in the spotlight for decades,
01:36but agents and managers report a strong downward pressure on compensation during contract renewal negotiations.
01:43An exception is sports broadcasting, where salaries are rising sharply and new talent can break through.
01:50With media companies investing billions in league rights for television's most-watched events,
01:55spending millions on top talent is viewed as quality assurance
01:59and a way to encourage leagues to prioritize their network.
02:03Sports broadcasters now account for eight of the top 25 highest earners.
02:08Meanwhile, celebrity chefs like Guy Fieri, Bobby Flay, and Gordon Ramsay,
02:13each with an estimated net worth of $33 million, are still living extra large.
02:19They manage extensive production ventures through overall production deals,
02:23opting for guaranteed annual fees instead of profit participation.
02:28Another bright spot on the list is the number of women who are represented.
02:31Host Judy Scheinlin, Rachel Mowdow, and Robin Roberts are among the 10 highest-paid personalities on TV.
02:39But those outsized paydays will soon come to an end.
02:43Streaming platforms do not offer talent salaries comparable to the largest TV deals.
02:48Instead, platforms like YouTube share 55% of ad revenue with creators,
02:54incentivizing talent to bet on themselves.
02:57Many in the industry believe this is the trend of the future.
03:00In the meantime, here are the top five hosts commanding the most.
03:05At number one, Tom Brady, worth $37.5 million.
03:11Fox's massive deal to secure the seven-time Super Bowl champion Tom Brady
03:16following his 2022 retirement from football
03:19has an impossible-to-calculate true value, according to television insiders.
03:24This is because a portion of his substantial compensation package is in company stock,
03:30which has appreciated significantly since the signing.
03:33Brady's duties extend beyond the commentary booth,
03:37as he also acts as a Fox ambassador at various company events.
03:41At number two, Guy Fieri, worth $33 million.
03:45The mayor of Flavortown reset the market for lifestyle talent
03:50with his three-year, $100 million overall deal signed in late 2023,
03:55making him the highest-paid talent at the Food Network
03:58after it merged with Warner Bros. Discovery a year earlier.
04:01The 57-year-old restaurateur has made nearly 600 episodes of Diners, Drive-Ins, and Dives
04:07since it debuted in 2007,
04:10and he produces or appears in numerous programs across the WBD portfolio.
04:16Next, at number three, Bobby Flay, worth $33 million.
04:21Bobby Flay's renewed overall deal in November
04:24now matches Guy Fieri's annual total,
04:27encompassing all of Flay's talent, producing, and personal appearance fees.
04:31In some instances, these deals also cover a percentage of ancillary business,
04:37such as physical products in restaurants,
04:39against that fixed annual sum.
04:42To justify this agreement,
04:44the six-year-old chef will need to maintain a busy schedule.
04:47His new show, Bobby's Triple Threat, debuted in September,
04:51and he currently has two other shows,
04:53Be Bobby Flay and Barbecue Brawl, in production.
04:57Coming in at number four, Gordon Ramsay, worth $33 million.
05:01Much like the other top chefs on TV,
05:04Ramsay has set up a mini-universe of culinary shows for Fox,
05:08including Hell's Kitchen, MasterChef, and Next Level Chef,
05:12lending him the same top-of-market overall deal value in March.
05:17Yet, unlike Bobby Flay and Guy Fieri,
05:19the 58-year-old Ramsay currently holds eight Michelin stars in his restaurant group
05:24and 40 million followers on TikTok,
05:27where he blew up during the pandemic roasting other users' cooking videos.
05:30And at number five, John Oliver, worth $30 million.
05:36The 48-year-old host of HBO's Last Week Tonight has secured a deal nearly twice the size
05:42of his network late-night counterparts.
05:44The show is a significant asset for the newly rebranded HBO Max,
05:49driving substantial sign-ups,
05:51and is a major award success,
05:53having won 30 Emmy statues over the last decade.
05:56For full coverage and to see the whole list,
06:00check out Matt Craig's piece on Forbes.com.
06:02This is John Palmer from Forbes.
06:04Thanks for tuning in.
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