Well according to me, IPL has been huge success because of the time factor and lots of advertisement & media hype..
India has always been a cricket loving nation. But since people dont have time to watch the whole game, the 20-20 format has been a huge hit as it is easier to spare 3.5 hrs, than to dig out 10-12 hrs a day.... add to it the factor that players belonging to different national teams have been brought together and played against some members of their own national team. This makes the whole thing a lot more interesting.
Endorsements by some of the national celebrities/entertainers has given the IPL an extra boost. For eg. fans of SRK belonging to Delhi have been supporting Kolkata team!!!!... isn't it interesting and the right time for the brands to boost up their sales???
Most of the players of IPL are the current National Players of different countries, quite unlike ICL; so they have media presence also. In fact, they themselves have acted like the endorsers of IPL.... What better way to promote???
IPL has been a huge success. Two of the teams have even earned profits during its 1st season itself. And one is just on the verge of break-even.
Great Business Scheme... Must say... Well Thought!!