My hypothesis is that we’ve bifurcated the audience somewhat. The folks that were there almost exclusively for the content have decided that they can do so more cheaply and efficiently online via virtual conferences or recordings. The folks that went for the networking as a primary driver, on the other hand, are largely eschewing online events as not fulfilling their needs. This may also explain a behavior change I’ve noticed for online events where the audience that consumes the recordings has increased while the live audience (the ones that participate in the limited social aspects like chat or Q&A) has decreased.