Fallon has hit the ground running with his incarnation of “The Tonight Show.” His showmanship in performing musical items, sketches and games has created viral hits and established him as late night's most-watched host.
In each of the last two years, his “Late Night with Jimmy Fallon” was nominated for Best Variety Series so it looks likely that he’ll bring “The Tonight Show” back as a nominee for only the second time since 2004 (in 2010 Conan O’Brien’s version was able to crack the field).
Standing in Fallon’s way of ultimate Emmy glory is last year’s winner “The Colbert Report.” The "Report" broke the 10-year winning streak of Jon Stewart’s “The Daily Show.” Both of these Comedy Central shows make fun of the newsmakers of the day.
Before these political satires owned this category, David Letterman’s “The Late Show” won for five years running. When you claim this category at the Emmys, you are hard to take down.
Colbert’s performance as a character offers something unique in the category. His exposure and buzz have magnified since being named to the new job. Add to that Letterman's gracious passing of the “Late Show” baton, as evidenced by Colbert's appearance on the show Tuesday, and he could be unbeatable.