what amused me is that if the public audience of figure skating is primarily females and gays, they should be very attracted to hot, cute, handsome young guys, and we have a very goodlooking men's field nowadays. plus they can do 'tricks' most ladies can't do, like the quad, 3A and 3-3-3. why men's skating is far less popular as women's? i don't get it either.
I am trying to understand and explain it in the way I understood it, not whole, but I think I know some of the reasons.
First, females love to see the ladies' skating is because they can relate to themselves. Many young girls are learning figure skating. One of my friend's daughter (who is 8 years old) is learning skating. She loves to watch Caroline Zhang. Caroline's success gave her a lot of encouragement. The mothers love to show their daughters the successful young ladies in order to guide them. It won't be appropriate, and the mother will not like their daughters to be attracted by the young guys too early. Also, girls at such young ages would not care about the opposite sex.
Second, for the adult women who love the ladies' skating but they don't skate themselves, the interest is also coming from the above reason - they can relate. Just like the "red blooded Americans" like to watch footballs, basketballs, and car races. The appreciation of the art and the beauty is universal, totally pure, totally 100% none sexual. I love some of the ladies' skating, such as Sasha Cohen.
Third, imagine the other half who are "red blooded", do they like to see their women glued to TV and cheer, and gush the hot, cute, goodlooking guys all the time?

No. The men controlled the world. The women are still fighting for the equal rights.

I am kidding.
This forum had a poll late last year about the favorite disciplines. The result indicated that the percentages of people who liked ladies' and men's skating were almost the same. I was questioning it at that time that why the TV show the ladies' skating much more than the men's if people who liked ladies' and men's were half and half? My answer to my question was: 1. This poll might not reflect the real world situation. 2. If it has reflected the real world situation, the network's power-that-be totally controlled the air time by not showing enough men's skating.
I, myself, think that men's skating is far, far more interesting than the ladies' because it is more challenging, more pushing to the human limits. Just like all of you who stated earlier in this thread said, they jump higher, turn more rotations, spin faster, ... It's like after seeing the men's competitions, the ladies' competitions seemed like junior competitions. Of course, I have to admit that the goodlooking helped. What if Alexei Yagudin looked like ... I don't know ... ? I guarantee he wouldn't be as popular as he was.