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If the networks have anything to say about, the P5 conferences may be unlikely to add more than one or two non-P5 schools as future members.
Why?
The answer is simple: $$$
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At a cost of $25 to $50 million per school/per year, the networks aren't going to be able to generate enough additional revenue to add more than a few more non-P5 programs, at most, to the P5 conferences.
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However, this doesn't imply that the networks fail to recognize the potential for additional viewership revenue from the non-P5 FBS schools.
The fact that the sports broadcasting networks have doubled or tripled their investments in the AAC and MWC is a strong indication that they view these conferences as fertile ground for future viewership growth.
They can get a lot more "bang for their buck" by investing in the development of the non-P5 conferences, as compared with making larger investments in the P5 conferences.
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The quality and viewership gap between the P5 and non-P5 FBS programs has not grown since the P5-G5 split in 2013. To the contrary, the gap has begun to become somewhat less evident, as the number of non-P5 top 25 teams has increased over the past 4-5 seasons.
The trend appears to be continuing during the 2020 season, with respect to the gradual increase in the number of non-P5 teams in the AP Top 25 (e.g., Cincinnati, BYU, Boise State, Marshall, Memphis) and the fact that a greater number of games between non-P5 teams have been able to generate viewership of 1+ million, for example, these games through Week 7 of the 2020 season:
SMU-TEX ST 1.23 M
BYU-NAVY 1.15 M
ARK ST-MEMPHIS 1.03 M
EKU-MARSHALL 0.980 M
NAVY-TULANE 1.35 M
APP ST-MARSHALL 1.25 M
ARMY-CIN 1.08 M
UCF-ECU 0.998 M
UCF-MEMPHIS 1.90M
BYU-HOU 1.16M
https://www.sportsmediawatch.com/college...v-ratings/