Pac-12 tops $500M revenue mark on strong growth
Conference reports record 2016-2017 financial performance, highlighted
by 8% growth in member distributions and 4% annual growth in revenues
Four-year period since signing of ESPN and Fox media deals and launch of Pac-12 Networks
marked by 63% growth in member distributions and 53% growth in total revenues
SAN FRANCISCO – The Pac-12 Conference today reported record performance in total revenues and member distributions for the financial 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 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 & Fox and launched 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,” said Larry Scott, Commissioner of the Pac-12 Conference. “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.
About the Pac-12 Conference
The Conference has a tradition as the “Conference of Champions,” leading the nation in NCAA Championships in 51 of the last 57 years, with 506 NCAA team titles overall. The Conference comprises 12 leading U.S. universities - the University of Arizona, Arizona State University, the University of California-Berkeley, the University of California at Los Angeles (UCLA), the University of Colorado, the University of Oregon, Oregon State University, Stanford University, the University of Southern California, the University of Utah, the University of Washington and Washington State University. For more information on the Conference’s programs, member institutions, and Commissioner Larry Scott, go to www.pac-12.com/conference.
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