“Late Show” host Stephen Colbert on Thursday broke some bad news for President Donald Trump after this week’s State of the Union address.

Trump ― who has said ratings are his “whole life” and the “only one thing that matters” ― saw an 11% drop in TV ratings during this year’s speech compared with his address before Congress last year.

“Donald Trump is really dragging down broadcast television,” Colbert said. “I mean, if I were CBS, I’d cancel him.”

The audience cheered loudly at the line, which doubled as a jab at his own employer. CBS announced last year that it would be canceling Colbert’s show, in a move the network claimed was “purely a financial decision” but came as parent company Paramount sought federal approval to complete a merger.

Colbert said one rating, however, didn’t drop: his own.

The live post-speech edition of “The Late Show” was up 7% compared with his broadcast after last year’s address.

“You know what I think was going on?” he theorized. “People may not like watching Trump, but they do like watching me not like watching Trump.”

See more in his Thursday night monologue:

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