There are a few online media companies that are doing really well without organizing events. Copyblogger did really well by partnering with others to develop products that the community could benefit from.

Thats the route you have to take. Partner with others to develop products. You bring the audience. They bring the products that help the audience. Something similar to what EarlyToRise.com did - created a panel of experts each of whom bought their own product to the table. (http://www.earlytorise.com/meet-the-experts/ )