I think the big difference is in the popularity of professional skating shows. Dorothy Hamill said about the importance of the Olympics that it was either win the gold medal and sign with Ice Capades or win the silver and go back to her job as a secretary. (In fact, she
bought Ice Capades.)
Ice Follies was big enough in the 1970s to offer Janet Lynn a 1.5 million dollar contract, making her the highest paid female athlete in the world.
Shows like this were basically Las Vegas variety shows on ice, featuring high-kicking showgirls in feathered costumes. Times change, tastes in entertainment evolve. We don't care so much about that sort of thing any more. (For one thing, it doesn't translate to television very well.)
http://figureskating.about.com/od/sk.../p/follies.htm
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