The point does remain that IPL generate far more views than PSL. Take that and multiply with the cost per 1k views and you'll arrive at the differential.
IPL probably has 5-7 times the number of views that PSL does. Multiply both the factors together and IPL bring 25-49 times bigger than PSL in terms of views arises.
Plus I'm assuming that the ad revenue is factored in your calculations. If its not , the number rises exponentially again.
An IPL revenue per season vs PSL revenue per season is probably the more apt way to look at this. Especially as IPL has more matches.
And at this point , the IPL franchises don't need to depend on majorly their own funds to buy the players as they are getting a share of the revenue which more than compensates for the huge player purchases etc. That and their alternate revenue streams.
