Bill Cosby was cast as the host of this sketch comedy show, largely based on his popularity with children. At the time, Cosby was the main voice actor in the popular animated series "Fat Albert and the Cosby Kids" (1972-1985).
This series was canceled due to low ratings. It was replaced on the schedule of ABC by the new series "The Hardy Boys/Nancy Drew Mysteries" (1977-1979), which eventually had higher ratings.
Since Chris Bearde was one of the people behind the Gong Show, at least one of the GS acts showed up on Cos. Michael Sherman, who ended up as an opener for Phyllis Diller, performed his act, a lipsync with props to a sped-up Yma Sumac record.