Alright, after testing it out a bit more it looks like the values you see when launching the show actually don't affect your profit in any way. For example, I just made a novice host internet show of the entire cast and when the launch screen showed the revenue and budget amounts it said the show made 31k in revenue and the weekly budget was 20k, which should mean the profit it gets every week (at least at the beginning) is 11k. But once the launch screen goes away and I check the media page for its profit values, it says its making 175k...and I have no idea where that value came from. I'm thinking maybe your fame at the time can heavily affect it (I'm at 10 star fame) so the revenue it would actually get is a lot higher than it looks initially, but if that's the case this should be reflected in the launch screen too.
Also I've now found that even internet shows can launch in the negatives too, but the only real way I've found to trigger it is to higher an expensive host like a 10 star host. And I also had a no host TV show that actually made money...but maybe that has to do with whatever weird thing happens to your profit after the launch screen. So I don't know what's happening but something random happens to the profit values after launch and if it's not that expensive of a show you will more than likely earn a profit that doesn't seem at all based on the launch revenue but heavily affected by weekly budget and some random value. I think just the revenue isn't actually factored into the calculation of profit maybe and this causes more expensive shows to be massive failures? It's all kinda weird from what I've tested so far. I'll let you know if I figure anything else out.
Edit: ALSO the TV show I launched that actually made me money let me immediately cancel it without waiting for the season to end. Did it maybe launch an internet show maybe but labelled it as a TV show? Or are TV shows just able to cancel immediately for the first few episodes?