Seth Meyers has extended his contract with NBC Entertainment through February 2021 to continue as host of Late Night. Additionally, Meyers will host a primetime special next New Year’s Eve.

NBC Entertainment chairman Bob Greenblatt made the announcement as he kicked off NBCU’s time at TCA.  After the announcement, a reporter asked Greenblatt if locking in Meyers, who began hosting the show in February ’14, through ’21 was a sort of “insurance” policy, since Tonight Show host Jimmy Fallon is “accident prone.” Greenblatt shot back that “Jimmy’s gonna be fine for many years to come,” suggesting Fallon’ll probably be hosting Tonight Show long after he is gone from NBC and some of the reporters in the room are out of their jobs. “We love Seth, We love Jimmy,” Greenblatt said.

Said Meyers via press release,“I can’t thank NBC enough for continuing to support our show and this more than makes up for my disappointment in not getting cast in The Wiz,”

As part of the deal, Meyers will host a 2016 New Year’s Eve Late Night 10 PM primetime special that will highlight all the news and current events of the year. After a decade of airing New Year’s Eve With Carson Daly at 10 PM, NBC opted for a live edition of the network’ unscripted series Hollywood Game Night hosted by Andy Cohen in 2015. The announcement of the new Meyers special follows soft ratings for Game Night. He will take on incumbent Ryan Seacrest on ABC and recent entry Pitbull on Fox.

“As a writer, performer and host, Seth has a rich history at NBC and we are thrilled that he’ll be at the helm of Late Night for many more years,” said Robert Greenblatt, Chairman, NBC Entertainment. “His knowledge of both current events and pop culture is unparalleled and he brings that expertise to Late Night every night. The show couldn’t be in better hands.”

From Universal Television and Broadway Video, Late Night with Seth Meyers is executive produced by Lorne Michaels (The Tonight Show Starring Jimmy Fallon, Saturday Night Live) and produced by Mike Shoemaker (Late Night with Jimmy Fallon, Saturday Night Live).