Video-conferencing was a big hype in the 1990s when it was promoted as a way to replace traditional meetings. As with much hype, it was followed by a "disillusionment" phase.
People simply preferred traditional meetings. In the meantime, video gradually entered into international conference rooms and meetings. Today, it is normal to have the keynote address delivered via video. Here is an example of one of fathers of the Internet, Vint Cerf, addressing the 4th Annual Meeting of the Internet Governance Forum in Sharm El Sheikh, 2009 (video by Seiiti Arata).