Penn State Sees $700,000 Drop In Revenue From Licensed Merchandise
The amount of money Penn State received in royalties from its licensed merchandise is "down more than $700,000" from last year and almost $1M "from the peak level two years ago," according to Mike Dawson of the CENTRE DAILY TIMES. The school this week released the figures "in response to a request last week after the Collegiate Licensing Co. issued its annual rankings that showed Penn State had fallen from No. 12 to No. 19 on its list of top royalty-earning universities." PSU from July 1, 2012, to June 30, 2013, earned $3.121M, compared to $3.86M a year earlier. PSU’s "peak numbers" were for FY '10-11, when the school had almost $4.1M in royalty revenues. PSU, which has been "mired in the Jerry Sandusky scandal, Freeh report and NCAA sanctions, has said the aftermath would make it impossible not to see a corresponding decline in merchandise sales." The football team also has been "banned from bowl games, and, as a result, the university will not see royalties from licensed bowl apparel." PSU's royalty revenues "hovered just under" $4M the two years before the peak in '10-11 (CENTRE DAILY TIMES, 8/20).