In a tearful announcement on Thursday, Today show co-anchor Hoda Kotb revealed her decision to leave the program after six years. Her departure signals a major shift in morning television, as networks begin to move away from the high-dollar salaries that once defined the industry’s top talent.

Kotb, who signed a $7 million-a-year deal in 2018, has been a fixture on the 7-9 a.m. block, along with hosting the fourth hour of Today with Jenna Bush Hager. But her exit is the latest indication that the era of star anchors commanding massive paychecks is coming to an end. According to insiders, network executives are tightening their belts and reevaluating the cost of retaining top-tier talent.

A news executive at NBC told The Daily Beast, “Next year’s going to be a bloodbath,” hinting that the days of high salaries for anchors are numbered. Kotb’s departure follows a broader trend, as even major networks like ABC face financial pressures, forcing them to reconsider multimillion-dollar contracts for stars like George Stephanopoulos, Robin Roberts, and Michael Strahan.

ABC’s Good Morning America has been similarly affected, with reports of cost-cutting measures and financial struggles at parent company Disney. Despite the significant contributions these anchors make, the current economic climate is pushing networks to find younger, more affordable talent to fill their spots.

While Kotb cited her desire to spend more time with her family as the primary reason for leaving, it’s clear that the changing landscape of television played a role. With two young daughters and a recent move to the suburbs, Kotb has been vocal about her priorities shifting toward her family life. However, her decision to step down also coincides with the industry’s tightening budgets, making it likely that financial considerations were also at play.

The decline of morning TV revenue has been swift. In 2016, Today brought in over $500 million in revenue. By 2021, that number had dropped to under $300 million, as advertising dollars shrank and the media industry struggled with changing viewer habits. Even as Today maintains a lead in the key 25-54 demographic, overall viewership has declined, and networks are responding by cutting costs wherever possible.

As NBC looks to the future, the race to replace Kotb as co-anchor is wide open. With the industry moving toward younger, cheaper talent, networks like NBC and ABC are likely to use this moment to make broader changes, potentially ushering in a new generation of morning show hosts. While Kotb’s departure marks the end of an era, it also signals the beginning of a new chapter for network television—one where economic realities may take precedence over star power.

Kotb plans to stay with NBC in a more limited capacity, contributing to select projects. However, her decision to step away from the daily grind of morning television underscores the shifting dynamics in the industry, where even long-established anchors are no longer immune to the financial pressures facing modern media. As networks navigate this new reality, the days of high-dollar, name-brand anchors may be fading into history.