It's hard to compete against the big 3 American sports: baseball, football and basketball. So much of our sports culture is built around TV and soccer isn't as adaptable to TV as the other sports. The others have lots of opportunity for commercials and that's what keeps TV going.
When I was in London I enjoyed sitting at the bar in the pubs and quaffing a pint and watching soccer. It was a nice cultural exchange. I was there during the Summer Olympics in 2000 and I did miss the American coverage of the Olympics. It was fairly sedate in the UK. A lot of horseback riding. The track team was suppose to challenge in the 4X100 relay. Well they dropped the baton and the commentators were rather disappointed.