♪ >> Stephen: HEY, EVERYBODY,

WELCOME BACK TO "A LATE SHOW."

I'M REALLY GRATEFUL TO BE ABLE TO KEEP DOING THIS SHOW WHILE

STAYING AT HOME.

AND IT'S BEEN GREAT SEE SO MANY OTHER LATE NIGHT HOSTS KEEP

THEIR SHOWS GOING AS WELL.

IN FACT, DURING THIS TIME, THERE ARE EVEN NEW LATE NIGHT SHOWS

STARTING UP, INCLUDING ONE HOSTED BY AMERICA'S FAVORITE

FURRY TICKLISH HOST-- AND I'M NOT TALKING ABOUT JOHN

KRASINSKI.

I MEAN ELMO, WHO IS ABOUT TO STAR IN "THE NOT TOO LATE SHOW

WITH ELMO."

WELL, I WANT TO WELCOME HIM TO LATE NIGHT.

SO, HERE HE IS, THE MONSTER HIMSELF, ELMO!

HI, ELMO!

THANKS FOR JOINING ME.

>> THANKS FOR HAVING ELMO ON YOUR SHOW, MISTER COLBERT.

>> STEPHEN: OH, PLEASE, YOU CAN CALL ME "STEPHEN."

>> THAT'S GREAT, MISTER STEPHEN COLBERT!

>> STEPHEN: ELMO, FIRST OFF, HOW ARE YOU DOING WITH SOCIAL

DISTANCING?

THANKS FOR ASKING.

ELMO IS OKAY.

ELMO'S STAYING INSIDE WITH HIS MOMMY AND DADDY.

EVERYONE ON SESAME STREET IS STAYING IN THEIR HOME.

OR TRASHCAN.

>> STEPHEN: OH, HOW IS OSCAR?

HE'S DOING GOOD.

HE'S HAPPY.

SO MUCH TO BE GROUCHY ABOUT.

>> STEPHEN: WELL, I'M GLAD YOU'RE ALL STAYING HEALTHY.

BECAUSE PEOPLE ARE HAVING TO MAKE A LOT OF ADJUSTMENTS RIGHT

NOW.

>> YEAH, THAT'S TRUE.

ELMO HAS BEEN LUCKY BECAUSE IT HASN'T BEEN TOO BAD FOR ELMO!

ELMO LIKES USING HIS IMAGINATION TO GO PLACES, SPENDING EXTRA

TIME WITH ELMO'S FAMILY.

AND ELMO NEVER NEEDS TO GO GET A HAIRCUT.

>> STEPHEN: YEAH, IT'S GETTING A BIT SHAGGY AROUND... EVERYWHERE.

>> YEAH.

>> Stephen: BY THE WAY, ELMO, I'VE NEVER SEEN YOU IN A SUIT

BEFORE.

LOOKS REALLY GOOD!

>> THANK YOU!

>> STEPHEN: YOU MIGHT BE THE ONLY PERSON I KNOW WHO JUST

STARTED WEARING PANTS.

>> THAT'S TRUE, YOU'RE ASSUMING ELMO'S WEARING PANTS!

YEAH, ELMO IS WEARING PANTS.

HOW IS MISTER STEPHEN DOING?

>> STEPHEN: I'M OKAY, ELMO.

I'M VERY EXCITED TO WATCH YOUR NEW SHOW.

THOUGH I NOTICED IT'S CALLED "THE NOT-TOO-LATE-SHOW."

I SEE WHAT YOU'RE DOING THERE.

>> ELMO CAN SEE WHAT STEPHEN IS DOING, TOO.

THAT'S HOW THESE VIDEO CALLS WORK!

>> STEPHEN: NOT THAT.

I MEAN I CAN SEE THAT YOU'RE COPYING ME.

>> WHAT?

( LAUGHS ) NO WAY!

>> STEPHEN: REALLY?

THE "NOT TOO LATE SHOW?" SOUNDS AWFULLY CLOSE TO "THE

LATE SHOW."

>> BUT NOT TOO CLOSE.

ELMO CHECKED WITH SOME EXPERTS TO MAKE SURE.

>> STEPHEN: YOU MEAN YOUR LAWYERS?

>> NO, NO... THE LETTERS "T" AND "M."

>> STEPHEN: THOSE GUYS ARE GOOD.

I JUST WANT TO SAY GOOD LUCK WITH YOUR SHOW.

IF YOU NEED ANYTHING, I'M HERE FOR YOU.

JUST BECAUSE WE'RE BOTH LATE NIGHT, DON'T THINK OF ME AS A

COMPETITOR.

>> DON'T WORRY MR. STEPHEN, "THE NOT TOO LATE SHOW" HAS A VERY

SPECIFIC TARGET DEMOGRAPHIC.

SO ELMO WON'T OVERLAP WITH MR. STEPHEN'S LIVE SAME DAY

BROADCAST MARKET SHARE...

WHATEVER THAT MEANS.

AND BESIDES, ELMO HAS TO BE IN BED BY 7:30!

>> STEPHEN: "THE NOT-TOO-LATE-SHOW WITH ELMO"

PREMIERES MAY 27 ON HBO MAX.

WE'LL BE RIGHT BACK.

( CHEERING )