From the Associated Press:
The IPL’s initial matches seem to have attracted more viewers than last year, but those monitoring the TV ratings say the matches failed to hold viewers’ attention. As viewers switched to news and other programs, the ratings apparently have dropped, although no official statistics have been released.
This doesn’t mean the IPL has failed yet. For one thing, the first few IPL matches were low-score affairs; for another, it’s still too early and the stakes still too low. Sort of like how people don’t watch tennis Grand Slams until Round 4 (at least I don’t).