Why Jon Stewart and Stephen Colbert Make Viacom So Interesting (VIA)

Comedy Central, owned by MTV Networks, has applied for a permit to hold a rally led by hosts Jon Stewart and Stephen Colbert at the Washington Monument, the National Park Service confirmed. On September 16, Stewart announced "The Rally To Restore Sanity" on "The Daily Show," while Colbert announced "The March To Keep Fear Alive" on "The Colbert Report," both to take place on October 30, 2010. According to a CNN report, "In the week since the Rally to Restore Sanity was announced, more than 100,000 people have signed up on Facebook (not exactly a scientific measure of success but a good gauge of interest), and more than 900,000 people have watched the announcement on the Comedy Central website." Both Stewart and Colbert are comedians, who satirize politicians and celebrities mercilessly. Still, both men are widely followed and respected. Indeed, Jon Stewart earned the title of "the most trusted man in news" in a Time magazine online poll last year and Colbert was named one of Time's 100 most influential people in 2006. Suffice it to say that the popularity that Stewart and Colbert enjoy runs deeper than slapstick comedy. The CNN report notes that "Viewers' intelligence is respected even as they are entertained, and between laughs the civic backbone begins to straighten a bit. News doesn't need to taste like medicine, and nonpartisan does not have to mean neutral." More importantly, viewers "are active citizens with busy lives. They view government as an attempt to solve problems, not a war between special interests or an hate-fueled ideological debate camp. And too often they are ignored." Stewart and Colbert understand this, and accommodate with witty, humorous commentary. Comedy Central is clearly enjoying the high ratings, but a quiet beneficiary of the duo is Viacom, Inc. VIA, the parent company of MTV Networks. While the media conglomerate isn't likely to see a material effect on earnings anytime soon, Stewart and Colbert bring something far more valuable: credibility. If Viacom can continue to grow and promote the comedians, their following could eventually become enormous. The vast majority of Americans want news from a source they can trust, and there are few journalists who are so straightforward. Between future television rights, advertising revenue, and licensing, the earnings potential could be unlimited. Viacom would be well advised to take care of Stewart and Colbert. They are highly influential figures, and ignoring their futures would be a mistake. Get real-time news and stock alerts by following Benzinga on Twitter!