I think some people have hit the nail on the head when talking about televising and spectating paintball.
The problem is similar (but not the same) to motorsports. If if its filmed right it is far more rewarding to watch on tv than it is real life.
Just like watching motorcycle racing at Silverstone as I did recently.........it was watching 30 bikes ride by every 2 minutes it wasnt exactly inspiring or even vaguely exciting once the start was done with. Infact I slept half the afternoon. However its as much about the day out as the racing itself, and that I think is where paintball needs to push to ensure more spectators attend.
Unlike racing, you can watch a game and pretty much get whats going on, it can be instantly exciting spectating, and it is easy to understand what is occurring, pretty much. Stalls, bands entertainment are perhaps another key to bringing people in. If its more than just watching ballers,if its a day out then more might come along, then their spouses who arent interested might come to watch too, catch a band/dj or get involved in other things there etc. Maybe even start to see the appeal of the sport?
Why not experiment with formats that make paintball more like traditional games, with scoring that can go back and forth during a set game? Why not reset players every so often and have potential for more than one hang in any one game? Perhaps that would appeal to more people? It might be interesting if you lose the flag, to actually be reset and continue until your time is out. The game can swing back and forth, making it potentially more exciting to watch.
Now as some have said filming paintball is actually hard and expensive, you need a lot of cameras (but not too many to hinder play etc) and with the current interest in spectating and media coverage it really isnt worthwhile the production companies investing the cash.....so its kind of a tough cycle to break, but I think many are making slow but sure progress.
Sponsorship is another key but its a two way deal, if the company dont visibly benefit I doubt it would last? Remember Pepe jeans sponsoring a few years back? Sadly it didnt last long if I remember rightly....
These things dont happen over night, but slowly its being recognised.....