I agree with a lot of what is being written in this thread, but let me share a little more thought on this matter.
There are a few reasons why T&F is so behind other sports. T&F will probably never be as big as baseball, football or basketball, but it can grow to the size of NASCAR, although I doubt it will ever grow that big either. In the U.S. the track season for the American sporting public lasts from indoor track until U.S. Nationals. After U.S. Nationals all the top athletes go over to Europe and the news media in this country could care less about what is happening over there. If you think about it all the major sports in the U.S. are played for a big portion of the year and all of the events are held in the U.S. American sports fans don't care about what the rest of the world watches, if they did soccer would be way more popular.
Another reason why the sport is not as distinguished as it should be is that our youth programs for T&F are dwarfed by the powers of the other big three, plus youth soccer. One thing soccer is finally starting to realize is that in order to have a strong fan base you need to capture the attention of kids when they first start playing. By the time kids start competing in track and field, which is either in junior high or high school, they already love other sports and no one teaches them to love T&F at the elite level. However, there is a large proportion of T&F athletes in the youth levels that don't love other sports and if marketed in the right way kids all over the sport would fall in love with the elite level of the sport. T&F is the second most participated sport in the country at the high school level, however, the fan base for elite level T&F is increadibly lame.
Here are some of my suggestions on how to improve it all...first, USATF needs to become better organized and really extend itself into promoting the best the sport has to offer (both athletes and events). Also, USATF and other race directors need to somehow figure out how to get more high profile track events in the U.S. during the European racing season. There are gaps in the racing season where this could happen, but it takes a lot of effort and money. On top of all of this, USATF needs to bring together the top meet directors, marketing folks, coaches and athletes together and figure out how to market the sport to all levels of participants. Millions upon millions of people do marathons and other road races every year. They can relate to road races if they are put together properly and marketed. How much of an effort does USATF put into road racing? Minimal effort. It's all about the best minds in the sport working together, something that doesn't happen very often. The one nice thing about the sport is that it is becoming more professional and more business driven. Craig Masback, love him or hate him, has done great things for the sport in a lot of areas and if you take time to email him or talk to him he will explain what USATF is doing now to help the sport grow, much of which is pretty solid.
Back to the point about undervaluing the youth end of the sport...this is the fan base the sport really needs to grab. Other sports market hard to the 14-24 demographic, T&F doesn't. I mean we don't even have a unified website with video, original content and athlete profiles. If someone was able to combine USATF, LetsRun, Flotrack, WSCN and have actual reporters writing original content into one website I guarantee that would help the sport massively. I mean look at what Dyestat has done for the high school T&F community, and even that website is untapped to the extreme. Every other major sport and most of the minor ones have a central news website. Having a website of such can help educate the youth in the sport and help drive marketing efforts to the general mass as well.
T&F needs to really take a look at pro and semi-pro events. Our top tier events are becoming more entertaining and better at marketing themselves. However, second tier events are horrible. Many road races, smaller track meets and such can learn a lot from researching what NASCAR and minor league baseball do to capture a fanbase of substance. State USATF organizations should be held to a higher standard than they are now. While they might be decent at youth events, most are incredibly bad at promoting elite events in their states or organizing them. Think about this...if USATF and all the state organizations worked together to promote more elite level events and really did a great job, more people would go see them, thus increasing money and participation in the sport because of the excitment each event would create. The sad thing now is that the top minds in the sport rarely come together and the sport is so spread out that it doesn't function efficiently.
This post is too long now. Sorry. I may post more later.