Back in the 50s when the 4 minute barrier was being approached, this was headline news all around the world. There would be mass crowds of 30,000+ showing up to the big races in hopes of seeing the greatest milers of their time. Nearly every TV or radio around the world would be tuned in to be a part of what was happening.
This type of thing never happens any more. Why is this? How much can you blame on how the media has shaped the way we view sports (with basketball, football, and baseball getting all of the air time / highlights these days). If ESPN started showing highlights of the best track meets around the world each week, would more people begin to pay more attention?