During the past 25 years the EPL had three excellent seasons in Europe with their traditional Big 4 doing their work, even then they only one CL during those years. That was pretty much it. Yet, as the EPL has faltered more and more in Europe and La Liga has soared again (remember than in the 2000s, La Liga was kicking arse as well) the English clubs still managed to increase their revenues massively from TV rights as well as sponsors. So, win another CL this year (preferably vs Real Madrid) and hammer the point home to the rest of the planet on who the boss really is. This EPL money train must be countered somehow.
So, to return to your point, the only reasons I can see for EPL popularity is superior marketing, and just as you said the English language as well as British colonial legacy.