Market trends indicate the distance running event industry is facing a running recession. Since 2013, consumer demand has declined annually while supply increased. The current research provides insight into why running as a recreational activity is declining and implications for organized events’ utility. Based on seven years of participants’ postevent surveys from a long-distance running event, the value placed on hedonic, symbolic, and lifestyle features of running (i.e., running involvement) is gradually declining, which corresponds to a decline in annual event participation. Results are based on analyses of both a time series of cross-sections (N = 23,790) and a panel of multiyear respondents (n = 461). Also, there are gender differences in the rates at which running involvement declined. These results shed light onto a sociopsychographic explanation for the declining levels of running event participation and general interest in running.