In 2015, David Letterman decided to call it a career from the Late Show. In truth, Letterman had the financial backing for several lifetimes, and he didn't need to justify the reason for his retirement.
Letterman stayed busy following his time on the Late Show. Among his biggest reveals was almost buying Twitter alongside a group of investors. Letterman claims Elon Musk came in at the last second and snatched it from his team.
However, just a few years later, Letterman would return to television, this time alongside Netflix. As we'll reveal in the following, Dave was able to secure a massive deal. We'll compare it to his days on the Late Show, and why the Netflix deal might've been that much more impressive.
David Letterman Made A Massive Pay On The Late Show With Major Increases Throughout The Years
David Letterman saw huge pay spikes throughout his stint on the Late Show. According to the numbers, Letterman's salary doubled per season when he made the move to CBS with the Late Show. It was believed to be at $14 million per season at the time of the move. However, the salary would only increase along the way. According to Forbes, Letterman was making $35 million per season at the end of his run.
Forbes writes, "Letterman was earning over $30 million per season. On top of that, he continued to earn money through his production company Worldwide Pants. The company produced numerous shows, including Everybody Loves Raymond, for which Letterman earns residual paychecks to this day. From June 2014 to June 2015, the last time FORBES took a look at his earnings, Letterman made $35 million."
As for Letterman and his decision to step down, he took a positive approach, and for his final episode, he didn't want some type of sad farewell, opting to keep things light.
He told The Hollywood Reporter, “Every big change in my life was full of trepidation,” he explains. “When I left Indiana and moved to California. When [my wife] Regina and I decided to have a baby — enormous anxiety and trepidation."
"Those are the two biggest things in my life, and they worked out beyond my wildest dreams. I’m pretending the same thing will happen now. I’ll miss it, desperately. One of two things: There will be reasonable, adult acceptance of transition. Or I will turn to a life of crime.”
Letterman didn't stay retired for too long, though this time around he was able to pocket a fortune while working a limited schedule.
David Letterman Secured A Deal Of $2 Million Per Episode For Netflix's My Next Guest Needs No Introduction
David Letterman didn't stay retired for long, and he was able to secure a fortune in what fans were calling the perfect comeback for the host.
Netflix dished out $12 million per season for David Letterman and his show, My Next Guest Needs No Introduction. What makes things that much more impressive is the host's schedule when securing the deal, one that entailed $2 million per episode, for six episodes total. Especially compared to all the dates Letterman worked on the Late Show, his deal with Netflix was a dream.
Letterman was excited to start the journey, though he did reveal that he needed his family's consent before getting started.
“I feel excited and lucky to be working on this project for Netflix,” Letterman said. “Here’s what I have learned, if you retire to spend more time with your family, check with your family first. Thanks for watching, drive safely.”
So how did Netflix justify the deal. Well, according to the streaming service, Dave's numbers alone were enough to secure such a huge deal.
Netflix Revealed The Reason Why David Letterman Was Given Such A Hefty Pay
Netflix Chief Content Officer Ted Sarandos justified the massive pay for David Letterman. He did confirm that the deal made sense for their side, especially given that the content was exclusive. He also mentioned that the deal also had backing thanks to data.
He tells Vanity Fair, “We have a bunch of audience data on whether [Letterman viewers] would be Netflix subscribers and all that stuff,” said Sarandos. “But at the end of the day, what it says is that we can afford to pay Dave a number that will make sense for him to come back. The show will be loud and they’ll want to see more of it.“
Sarandos would go on to mention that just meeting David Letterman was a thrill.
“Just meeting David Letterman was a thrill; imagine how exciting it is for me to announce that we will be working together. David Letterman is a true television icon, and I can’t wait to see him out in the wild, out from behind the desk and interviewing the people he finds most interesting. We’ll have to see if he keeps the beard.”
In the end, it was a deal that secured Letterman's return in the perfect way.
