Last night, Pac-12 commissioner Larry Scott told CBSsports that the league's new media arm could earn the conference an additional billion dollars over the next seven to ten years. That is ON TOP of the three billion dollar tv rights deal that the conference has already announced with ESPN and Fox.
"I can tell you this, based on offers people have made to us we've got at least a billion-dollar business we're sitting on," Scott told CBSSports.com. "That's just Pac-12 Media Enterprises."
He later added: "That is a broad figure that has been thrown out to us by media investors. That's a potential minimum value over a seven-to-10 year period."
Dividing $1 billion among 12 schools could mean an additional $83 million is gross revenue total per school. Depending the on length of the deal, that means Pac-12 Media Enterprises alone could produce an additional $8.3 million-$11.9 million per year for each school. The schools already are guaranteed an average of $21 million per school in the ESPN-Fox deal.
Pac-12 Media Enterprises is the new company that will manage the league's new network, digital rights and conference level sponsorship and licensing. Larry Scott continues to show that he is a visionary who understands media in the broadest sense of the word, not just with college, or even professional sports.
If you aren't already excited then this should do the trick:
The digital possibilities, he continues to say, are limitless. There are 2,700 Pac-12 "events" available for broadcast each year according to Pac-12 TV consultant Chris Bevilacqua. To date, only 131 of those have been sold. Scott wants Pac-12 content on every device imaginable. There already have been discussions with Google as a possible partner.