Production Value Matters: The Business Event Podcast

The Collapse of Colbert: Can Your Event Survive the Attention Economy?

Aug 5, 2025

Explore the collapse of traditional formats as the podcast reveals how Colbert's cancellation mirrors the struggles faced in event production. Delve into the attention economy, where audience engagement is paramount. Discover innovative strategies for modern events, including virtual, hybrid, and micro formats that drive ROI. Learn how to reallocate budgets for maximum impact and create data-rich experiences that resonate with today’s viewers. Prepare to transform your events to thrive in a rapidly evolving landscape!

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ANECDOTE

Colbert Cancellation As A Mirror

Stephen Colbert's Late Show was canceled after losing $40M a year despite polished content and high production values.
Matthew Byrne uses this story to illustrate how a successful format can fail when audience attention shifts.

INSIGHT

Old Event Model Is Out Of Sync

The old event model (venue, spectacle, single-stage) no longer reliably delivers ROI or attention in today's media landscape.
Byrne argues the audience's attention habits have changed and events must align with those new consumption patterns.

ADVICE

Design For Short Attention Spans

Rethink format and storytelling instead of streaming a long general session to distracted remote viewers.
Design events around shorter attention spans and interactive elements to retain viewers.

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Colbert couldn’t survive the attention economy. Can your next event?

Stephen Colbert’s Late Show once pulled in millions of viewers. But recently, CBS canceled it after losing $40 million a year. Why? Not because the content was bad, but because the format no longer fit how people consume content today. In this solo episode of Production Value Matters, host Matthew Byrne explains why this isn’t just a broadcast TV problem, it’s a wake-up call for anyone producing business events.

Matthew unpacks how the same outdated model that led to Colbert’s decline is still being used in boardrooms and ballrooms—and why that has to change. He introduces the concept of the attention economy, where audience engagement is more valuable (and more fragile) than ever. You’ll learn how to modernize your event strategy to meet today’s viewing habits and expectations, using flexible, data-driven formats like virtual, hybrid, and micro events.

Whether you're producing a global summit or a private roundtable, this episode is your guide to creating events that are leaner, more engaging, and built for today’s reality.

What you’ll learn:

How the cancellation of Colbert’s show mirrors the struggles of traditional event formats
What the “attention economy” is and why it’s disrupting live events
The ROI benefits of virtual, hybrid, and micro events
How to reallocate production budgets to what actually drives value
The importance of data-rich virtual experiences for lead scoring and follow-up
Why hybrid isn’t a fallback—it’s a flexible powerhouse
How micro events deliver deeper connections and stronger engagement
Why event strategy must evolve or risk becoming irrelevant

Matthew Byrne is the Founder of Byrne Production Services and host of the Production Value Matters podcast. With over 20 years of experience in large-scale AV and event production, Matthew helps event leaders bring strategy, technology, and storytelling together to create unforgettable experiences.

Click here to download the report: Rethinking Event Strategy In A New Attention Economy

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