Not just yet. A number of classical circuses–known for intimate, tented settings and minimal technology–persist despite pressure to modernize. “The economic constraints are very real,” says Paul Binder, founder of the Big Apple Circus, where ticket sales fell 5 percent last year. The tension of old vs. new is evident: Big Apple uses high-tech lighting and digital sound effects, but still features age-old yet captivating feats in a 1,700-person tent. The Florida-based Cole Bros. Circus also remains tented, but an organizer says they envy the climate control of arenas.

The old-time circus’s death knell has sounded prematurely before, such as when Ringling switched to arenas in the ’50s. University of Texas circus historian Janet Davis thinks the circus will survive, but that it “could change form.” How much? It’s a tough balancing act.