Would you ever buy a tee shirt saying you had streamed a Taylor Swift concert? Surely the answer is no. But if you went to a concert you would buy the merch and wear it with pride for years to come. Unlike the streaming, the attending will be a memory that you will cherish forever, and, (this is really important), want to retell to other people. You get bragging rights. It's being there that counts.
Your events may not quite have the kudos of an A-list celebrity, but they will cement a place in the memory of the audience. That is the purpose of events, to create memories, because it is the memories that return value to the organiser. If your events are for entertainment then it's the memories that will make the audience buy tickets in the future. If your events are for business then it is the memories that will influence audience behaviour in the future.
For business events more than any, the ability to create memories is invaluable. Everyone is bombarded with marketing messages 24/7. But 99.9% of those messages are instantly forgotten. The opportunity to make a lasting impression is the magic of the live event. All you have to do is make sure it's the one you want!
Exercise: Think back over the last 6 months and see if you can remember all the events you attended. Then try and remember any stand-out online content: Then judge for yourself which format is better at creating memories. Let us know which format won...