Outfront Lands Univ. Of New Mexico Multimedia Rights In 10-Year Deal
For the first time in its current form, Outfront Media Sports has won the multimedia rights at an FBS school. The Univ. of New Mexico has agreed to a 10-year deal with Outfront that will pay a profit-share to the school based on how much the property clears at the end of each year. Most multimedia rights deals pay the school a guarantee with some limited opportunity for revenue sharing. UNM’s agreement with Outfront does not include a guarantee, but the school is betting on the long-term potential that a profit-share will be greater. The business model helped Outfront win a competitive bid process against Fox Sports, Learfield IMG College, JMI Sports and Van Wagner. It is not exactly clear what percentage the school will keep because they are still finalizing the terms with Outfront. The win provides a much-needed lift for the college division at Outfront, which is led by Bill Cartwright and David Johnston, a pair of veterans in collegiate marketing. New Mexico had been a Learfield IMG College client since '07 until a disagreement over terms led them to sever the previous contract a year early.