Do a Pareto on the money and it is highly concentrated. It is highly likely most teams will shakeout.
I would love to see numbers on second order analysis of eyeballs and such. Here I'm purely speculating and don't know how well the conferences or networks themselves even have a handle on this, but I've been thinking about a few different sort of big game types, maybe well-exemplified by: Tenn(1)-UGA(3) in 2022, Alabama(5)-Ole Miss(nr) from 2022, or Stanford(14)-Oregon(1) from 2012. The UGA/Tenn game did 13.1M viewers, the Alabama/Miss game did 8.7 Milion viewers in 2022, the 2012 Stanford(14)/Oregon(1) game did 8.3M viewers. So that Stanford-Oregon game did very respectably, but mid-level Alabama games these days can do as well or better today. And lets handwave away differences in cable subscriber counts and such too for now.
Question is just where those viewers come from? The UGA, Tenn, Bama, Miss, fan bases are all bigger than Stanford's, and all likely bigger than Oregon's IMO too, so there's definitely a lot of secondary interest in these numbers, but that holds for the SEC games too, since it's not every SEC game or even every Bama game putting up those numbers.
How many are coming from midwestern/southeastern fans checking out Oregon or Bama or whatever other teams are just highly ranked any given year?
How many are coming from casual CFB-as-a-sport fans outside of the SEC/Big 10 footprints?
How many are coming from fans of specific non-SEC/Big 10 CFB teams?
The problem with a Pareto approach on revenue without taking those factors into consideration is that if UGA/Bama are bringing in 80% of viewers today because they've been the best for the last decade or two
but a big portion of the viewers are more fans of the sport than the SEC itself, then it's possible to both:
- keep the 20% of teams that bring in the top 80% of revenue
- shrink top-line revenue to be significantly lower than 80% of the pre-shakeup number
And the risk is particularly acute right now because everyone in the country, geographically is currently paying for college football channels on cable. But that could change quite dramatically in the next 10-20 years.