Saturday Night Live UK is spending $2.6 million per episode, which raises an important question: why?

That's not a typo. £2 million per episode for a sketch comedy show that—and I say this with affection for the format—doesn't require that kind of budget. You're not building alien worlds or blowing up cars. You're doing sketches.

For context, typical sketch comedy shows operate on a fraction of that. Even the original SNL in New York, with its decades of infrastructure and star power, doesn't spend that much per episode.

So what's driving the cost? Probably a combination of things: building a new studio setup, paying competitive rates to lure British talent, and the prestige tax of being associated with the SNL brand.

But here's the thing about the SNL brand: it doesn't actually travel that well. British sketch comedy has its own rich tradition—Monty Python, The Two Ronnies, Little Britain. Brits don't need an American import to teach them how to do sketches.

SNL works in America because it's tied to American politics, American pop culture, American rhythms. The format is deeply local despite the global brand recognition. Exporting it means either doing British sketches about British issues (in which case, why call it SNL?) or doing American-style comedy for British audiences (which feels... off).

The budget suggests they're going big—major hosts, elaborate production, real investment. But investment doesn't equal success. The Rebel Billionaire had a massive budget too, and nobody remembers it.

Sketch comedy succeeds or fails on whether it's funny, not whether it's expensive. Some of the best sketches in comedy history were done on shoestring budgets because the writing was sharp and the performances were committed.