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TV information insiders can inform you the second that the world modified for high-priced anchor expertise: Nov. 29, 2017, the day Matt Lauer was fired from NBC’s “In the present day” amid surprising allegations of sexual misconduct. As a fast repair, NBC Information turned to Hoda Kotb to interchange Lauer as co-anchor alongside Savannah Guthrie for the present’s major 7-9 a.m. broadcast. After which the community braced for influence.
However the crash by no means got here. “In the present day” rankings truly improved post-Lauer, who had been making round $20 million yearly. That’s a testomony to the present and the energy of Kotb and Guthrie as a group. And it was most undoubtedly a wake-up name for the business.
“You had this type of fable constructed up that if this individual leaves, the present is doomed,” one information veteran notes says. “It’s pushed by the thought you’re afraid that if he leaves, every little thing comes crumbling down. Then he’s fired and compelled to go away, and it doesn’t harm. I feel that may be a seminal second for the bean counter-slash-executive pondering round these morning present individuals.”
Late final month, Kotb got here to her personal scandal-free crossroads. The much-loved anchor, who established herself as host of the present’s 10 a.m. hour earlier than she was tapped to interchange Lauer, noticed her wage develop within the ensuing years. However as a brand new spherical of contract negotiations approached, Kotb was dealing with a big pay reduce in a wage now estimated within the $10 million-$15 million-a-year vary.
For certain, it was Kotb’s name to go away “In the present day,” however the promise of getting to soak up a considerable pay reduce could nicely have accelerated her timeline. “I noticed that it was time for me to show the web page at 60, and to attempt one thing new,” Kotb instructed viewers on Sept. 26 in disclosing that she would go away “In the present day” early subsequent yr.
Kotb’s pending exit from NBC Information is a high-profile instance of TV’s new austerity push in terms of expertise and manufacturing prices — particularly on long-running franchises like “In the present day.” NBC removed the band on “Late Night time With Seth Meyers” and lowered the frequency of “The Tonight Present Starring Jimmy Fallon” from 5 nights every week to 4.
CBS has additionally wielded the funds ax in information and late evening. Norah O’Donnell is leaving her put up as anchor of “CBS Night Information” subsequent month after the presidential election — one other budget-driven resolution. (O’Donnell — who strikes to a schedule of “60 Minutes” and specials — will probably be changed by the rotating partnership of John Dickerson and Maurice DuBois.) “The Late Late Present” was canceled after James Corden’s departure. It was changed with the less expensive “After Midnight” comedy quiz present format.
Even the sports activities broadcasting world noticed ESPN lay off hosts together with Robert Griffin III and Sam Ponder. “Everybody’s , how do you make this a enterprise?” says one insider. “How will we make it in a means that allows us to maintain it for the longer term? Nobody’s making an attempt to make it worthwhile anymore. It’s similar to, how will we make it sustainable?”
Furthermore, leaders of TV information organizations haven’t any selection however to confront the long-term prospect of diminishing audiences for linear broadcasts. The viewers for dwell information grows grayer and grayer as youthful shoppers get extra information from social media and options to conventional broadcast information.
“They clearly wish to reduce prices,” says one agent of the networks. “These $20 million-plus salaries, they simply don’t justify themselves anymore.”
Why is that this occurring now? Blame the content material recession, triggered by the right storm of wire slicing, altering enterprise fashions, international and nationwide political unease, a whiplash economic system after which the latest Hollywood strikes. It’s a media implosion that has led leaders to rethink the fee construction of each facet of the enterprise. And for certain, expertise salaries are a giant, fats goal.
Maybe hit hardest would be the broadcast faces that aren’t family names, even when they’ve regular on-camera gigs. Consider the noon anchors on cable information networks who make as a lot as $750,000 yearly — they gained’t probably be capable to attain that sort of wage once more, media pundits observe.
However as networks begin to transfer away from the star system, some extra outstanding names could also be misplaced within the shuffle as nicely. One latest instance is Jeff Glor, who had even anchored the “CBS Night Information” for 2 years (2017-2019) however by 2024 was seen as expendable and proven the door.
On this atmosphere, expertise reps are protecting an in depth eye on ABC’s “Good Morning America,” which has a excessive overhead from the salaries of its three core anchors: Robin Roberts, George Stephanopolous and Michael Strahan. Stephanopolous’ contract is believed to be up first, and that’s anticipated to be a tense renegotiation. Over at CNN, there’s related bean counting occurring as new chairman/CEO Mark Thompson appears to regulate compensation — with some marquee stars dealing with a pay reduce, and even superstars having to accept at most a gradual wage sans increase.
The hardcore selections being made sooner or later will probably be much less from an emotional standpoint — “These are marquee names that I don’t need my competitor to have” — and extra about “Does this individual transfer the needle?” These stars that “transfer the needle” would possibly face a compensation haircut, however they may nonetheless be paid handsomely by the usual of on a regular basis Individuals.
Falling into that class are anchors like MSNBC’s Rachel Maddow, who solely hosts one present every week — however her energy is well measured in how that hour does versus the remainder of the week. Maddow at the moment makes round $30 million a yr. It’s almost not possible to think about her commanding that sooner or later. At CNN, Anderson Cooper is probably not a rankings powerhouse, however he’s a pillar of that community, having simply gained 5 extra Information Emmy Awards for the cabler.
With so few stars at CBS, Gayle King is a titan — however even she is believed to have taken a pay reduce in her latest contract renegotiation, down from her earlier $13 million a yr contract. That’s a far cry from
what she may have leveraged a decade in the past.
“There are particular individuals which might be simply so recognized with their networks or with their entities that they’re at all times going to be paid nicely, it doesn’t matter what,” one agent says. “However look, we do have wire slicing, and we do have audiences going to totally different locations to look at their programming. A variety of these entities are seeing their revenues decline. That’s only a truth of life.”
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