Friday Features: Multimedia Rights and NIL Expansion
On June 5th, 2025, the University of Southern California (USC) and Athletic Director (AD) Jen Cohen announced a brand new 15-year multimedia rights (MMR) deal with Learfield that will begin in 2026 after USC’s MMR deal with Playfly Sports expires.
Learfield prides itself on its seven-tier strategy for “Unlocking NIL Opportunities,” which is highlighted by its ability to leverage fan data and connections to expand a university's digital footprint. As of last year, Learfield was the “exclusive deal maker for 160 colleges to integrate school intellectual property (IP) into NIL campaigns along with student-athletes.” By providing school-specific content creation and community relations initiatives, Learfield has been able to offer respective universities with large percentage increases in engagement, which translates directly to increased revenue streams.
As the dust settles, one interesting perspective to consider is whether this USC/Learfield deal will serve as the fuse for a myriad of similar strategic positions for other universities. While former players are becoming collegiate GMs and local businesses and private donors continue to donate to NIL collectives, strategically utilizing multiple avenues of fan engagement does seem to lend itself toward being the most tried and true means of increasing revenue streams. In short, more fans equal more money. If we begin to consider how new legislation (i.e., the House Settlement) may affect future MMR deals, we can begin with the following considerations.
Pre-House Settlement Considerations:
NIL Compliance & IP Integration – Before the settlement, Learfield was already integrating school intellectual property (IP) into NIL campaigns. Schools had to ensure that these deals complied with NCAA regulations and state laws governing NIL. These regulations post settlement may involve the discretion of a commission or governing body that differs from the current framework.
Third-Party NIL Deals – Before the House Settlement, it was apparent that universities had to be cautious about third-party NIL agreements to avoid potential violations of NCAA rules regarding improper inducements or pay-for-play concerns.
Financial Structuring – Schools needed to structure their MMR deals to maximize revenue while ensuring compliance with existing NCAA amateurism rules.
Post-House Settlement Considerations:
Revenue Sharing Compliance – The settlement allows schools to directly compensate student-athletes, meaning USC must ensure that its MMR deal aligns with new revenue-sharing models.
NIL Clearinghouse Oversight – The NCAA has established a clearinghouse to review NIL deals, ensuring they are legitimate endorsements rather than disguised salaries. USC and Learfield must ensure their NIL activations comply with these new oversight mechanisms.
Title IX Implications – Schools must be mindful of gender equity concerns in revenue-sharing agreements. Since male athletes (especially football and basketball players) are likely to receive higher compensation, USC must ensure compliance with Title IX to avoid potential litigation.
Roster Limits & Athlete Compensation – The settlement imposes roster limits that could impact participation numbers across sports. USC must assess how these limits affect its athletic programs and whether adjustments are needed in its MMR strategy.
Financial Planning & Budgeting – With schools to be permitted to allocate up to $20.5 million annually for athlete compensation, USC must determine how its MMR revenue streams will support these payments while maintaining financial stability.
Institutional Branding & NIL Restrictions – Schools may need to place limitations on NIL deals related to certain industries (e.g., gambling, alcohol) to protect their institutional brand and avoid reputational risks.
Potential Strategic Adjustments for USC & Learfield:
Enhanced Digital Engagement – Learfield’s ability to leverage fan data will be crucial in monetizing NIL opportunities while ensuring compliance with new NCAA regulations.
Legal Safeguards in Contracts – USC should incorporate legal safeguards in its MMR agreement to address potential NCAA policy shifts over the next 15 years.
Monitoring Federal Legislation – The NCAA settlement includes provisions that could influence future federal NIL laws, meaning USC must stay informed on legislative developments.
To conclude, USC’s partnership with Learfield marks a pivotal moment in the evolution of multimedia rights (MMR) deals within college athletics departments. As universities navigate the complexities of NIL expansion, revenue-sharing models, and regulatory oversight, this agreement could serve as a blueprint for future deals across the nation. With Learfield’s emphasis on digital engagement and fan data utilization, USC is positioned to maximize both financial growth and athlete opportunities. As legislative changes continue to shape the landscape, adaptability will be key and will ensure that schools like USC remain at the forefront of innovation while safeguarding compliance and institutional integrity.