Drama at 11:35: Who Will Make Us Laugh?

Oct. 22, 2007 — -- Who will make us laugh in the midnight hour three years from now?

In 2010, late-night comedy king Jay Leno will step down from the "Tonight Show" to make room for Conan O'Brien, and there is speculation that David Letterman may also quit when his contract runs out that year.

Last week, Jon Stewart's decision to sign a two-year contract extension with Comedy Central, which coincides with Letterman's deal at CBS, sparked reports that Stewart was positioning himself to take over for Letterman.

If that happens and O'Brien and Stewart inherit the mantle of Jack Paar, Johnny Carson, Leno and Letterman, it would represent the biggest change to the late-night comedy landscape in 20 years.

After all, both comics have honed an ironic sensibility and contrarian wit that appeals to younger audiences and may not appeal as much to older mainstream viewers.

Stewart and O'Brien both dominate the 18-49 demographic coveted by advertisers while Leno and Letterman keep losing those younger viewers. While Leno lost 11 percent of his total viewers compared to last year, the big-chinned comic lost 16 percent of that crucial demographic. Similarly, Letterman was down 7 percent in total viewers and 14 percent in the 18-49 demographic.

"Someone like Jon Stewart is a very attractive option for a lot of networks and I can see why he'd be playing his cards to be available then," said Tim Brooks, a TV historian. "One of the continuing battles network executives have is trying to get younger audiences and anyone who stays there long tends to attract an older audience. Younger viewers are restless and on to the next thing."

New hosts have always upended the traditional format, Brooks explained. "When Carson started in 1962, he was the young, bright, up-and-coming comic. He was only known for a few game shows and he brought a whole new tone, a comic tone in a time period that had been fairly serious."

But the question remains: Besides the larger audience and bigger paycheck, why would a new-school comic like Stewart be interested in such a traditional slot?