Satellite radio shock jock Howard Stern has warned that "The Jay Leno Show" will bring the entire network down around him.

But John Ferriter, head of non-scripted programming for talent agency William Morris Endeavor Entertainment, said even if "The Jay Leno Show" earned a network nearly all-time worst of a 1.5 household rating, the daily program could still help NBC pocket $300 million a year.

That statement already has raised some eyebrows, especially with audiences for "The Jay Leno Show" already departing en masse.

Ferriter shared his observations during a Producers Caucus panel at the Beverly Hills Hotel Sept. 22, adding that NBC could declare success on this show, even if it can't beat anything else in the ratings.

That gives Leno a wide berth. Despite premiering with an 11.0 rating/18 share, according to Fast National ratings from The Nielsen Co., the show has quickly fallen on the way side. Its average in its first week was a 7.4/13 despite falling into the 5.0s households by the end of the week.

This week started horribly for Leno, his first two episodes averaging just a 4.2/7, down 43 percent. His Sept. 22 rating, the night Ferriter shared these observations, were a 4.5/8, down nearly 35 percent from its previous week, and off 59 percent from its premiere.

At the same time, Leno is struggling from weak lead-ins.

On Monday, when his ratings plummeted 65 percent week-over-week, Leno's "Heroes" lead-in only offered him a 3.4/5, a number he bested by nearly 12 percent. Tuesday, his lead-in was "Biggest Loser," which gave him a 5.0/8 in its second hour. However, his 4.5/8 was 10 percent lower despite growing "Biggest Loser's" audience the week before.

"Leno" also is finding himself with tough competition as both ABC and CBS decided to continue putting its best dramas in the 10 p.m. timeslot. On Monday, "CSI: Miami" premiered with an 8.7/14 on CBS while ABC got a 6.2/10 out of "Castle," both enough to beat the former "Tonight Show" host.

Tuesday, it wasn't even close with "The Good Wife" earning a 9.2/16 for CBS while "The Forgotten" premiered with a 6.3/11 for ABC.

Although networks could start veering away from high-end dramas after failures such as "Kings" on NBC last year, cable could be there to pick up the pieces, according to The Hollywood Reporter.

"It doesn't matter how old or young the writer is, or how many credits he has," HBO programming chief Michael Lombardo said. "The question is, does he bring a fresh voice to interesting material?"