Not sure I'm seeing the connection...
the business of bodybuilding is flawed from top to bottom. and it's unsustainable.
I don't understand why supplement companies would sponsor bodybuilding shows in the first place because people who attend shows are not their target demographics, 15-25 year old males. yet the shows are created as these mega events that they expect people to fly in for the weekend, not exactly what 15-25 year olds are likely to do. I don't know why a supplement company would buy a booth at the Olympia expo, which is a trade show for people in the industry. Its not an effective way to reach the people who buy your product.
Even without the internet, the US bodybuilding mags are killing themselves by creating products that no one can or would want to read on a regular basis. 400-500 pages a month, ads made to look like articles or athlete profiles! the kids read it because they don't know better, but the kids eventually grow up and realize its all BS. I think all the ads, and especially all the deceptive ads, in US magazines has turned people off, decreasing sales, accelerating their decline.
In other parts of the world, Australia, Europe, Latin America, the bodybuilding mags are still magazines, not supplement catalogs. Usually under 200 pages, less than a third ads.
I'm sure some non-US publishers would love to have the short term profit from 300 pages of ads, but the advertisers aren't there. That's because they have stricter laws on what you can sell, or what you can claim in ads. In Mexico, you can buy anabolic steroids without a script at any pharmacy, but there are very few of the big name supplements because the Mexican government requires you to prove that your supplement does what you say it does.
It would be great if non-supplement companies would get involved with sponsoring pro bodybuilding shows. But Nike or Budweiser or Staples aren't going to get near a sport so tainted by drugs. Only supplement companies seem willing to do that. Perhaps the reason why almost all IFBB pro shows are in the US is because only in the US are dietary supplement laws so lax that supplement companies are able to make huge profits. Supplement companies aren't willing to sponsor contests outside the US because they can't sell their products there.
But again, why can't a bodybuilding contest, or a series of contests held over a month or so, survive on just the revenue from the gate?