Economics of Leno vs. Conan

Or, why Leno's 10 o'clock show didn't stand a chance:

In 2009 key demographic group ratings for network 10 P.M. shows were just half of what they had been five years earlier. And a reason for that was that some 40 percent of households now had the technology of digital video recorders, allowing people to easily program their own TV schedules.

And a habit many people had apparently gotten into was to use the 10 P.M. hour to catch up on programs they had recorded either earlier that night or even earlier in the week. So Leno at 10 wasn’t just up against alternative network programming. Thanks to consumer technology, he was up against millions of people’s personal programming options, too.