Pac-12 Tops $500M Revenue Mark On Strong Growth
The Pac-12 Conference reported record performance in total revenues and member distributions for the fiscal year 2016-2017, driven by strong year-on-year growth in media rights. For the first time ever, Pac-12 revenues topped the $500M mark at $509M in total revenues, a 4% increase over the prior year. Member distributions also reached an all-time high at $371M, an 8% increase over the prior year.
For the four-year period since 2012-2013 when the Pac-12 began its media rights agreements with ESPN and Fox along with the launch of the first and only member-owned conference network, annual member distributions have increased by 63% ($228M to $371M) and annual total revenues have increased by 53% ($334M to $509M total revenues). The compounded annual growth rate for member distributions and total revenues over the four-year period was 13% and 11%, respectively. The ESPN and Fox deals signed in 2012 resulted in more than four times the annual revenue of the prior Pac-12 media deals.
“The Pac-12 is committed to supporting the academic mission and athletic values of our universities, and we are pleased with the continued financial growth that supports this mission,” says Larry Scott, Pac-12 commissioner. “This commitment is core to our Pac-12 Networks, which annually showcases to a national audience 850 live Pac-12 events, including an unprecedented number of football, basketball, Olympic and women’s sports.”
“The strong financial performance recorded by the Pac-12 Conference provides valuable resources to our universities to support our educational and athletic goals, including opportunities for the over 7,000 student-athletes competing on our Pac-12 campuses,” said USC President and Chairman of the Pac-12 CEO Group Max Nikias.
The Pac-12 Networks is the only conference network wholly-owned and controlled by its university members, providing an unprecedented platform to showcase the full breadth of Pac-12 sports to fans nationally across a variety of linear, digital and social platforms. The ownership model, under which the universities retain full equity in the enterprise, also provides a platform for innovation and the flexibility to adapt to and achieve full value from a rapidly evolving media landscape. Revenue and expenses, but not equity value, from the Pac-12 Networks are included in the Conference’s reported financial results.