It has also adopted from corporates and other sports the ways to popularize and distribute the game. Indian Premier League is a fantastic example of how the authorities adopted the proven model of English Premier League football (soccer) and took the game of cricket to the new level of entertainment.
There have been concerns raised by people about dilution of glory of good and old cricket by the introduction of new formats. I disagree with that. Here measure-the-response is at play. Most of the Test matches (5 day format) is witnessed by crowds as low as 10% of total seating capacity of stadia. And as the younger generations are coming into mainstream of consumers, it was highly pertinent to introduce something that they can identify with.