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Matthew unpacks how the same outdated model that led to Colbert’s decline is still being used in boardrooms and ballrooms—and why that has to change.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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For additional resources for #eventprofs visit www.productionvaluematters.com

For additional resources for #eventprofs visit www.productionvaluematters.com

Check out our 3 most downloaded episodes:

• Measuring Value in Your Events: Insights from Jodi Collen
• Educating Clients and Managing Expectations in Event Production with Fransiska Weckesser
• The Intersection of Event Planning and Psychology with Victoria Matey

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