Good morning, and thanks for your continued support of Extra Points.
A few weeks ago, Nebraska announced a massive new contract with Playfly, one reportedly worth over $300 million dollars.
The deal is interesting for several reasons. Like apparel contracts and other major vendors, schools don't hit the free agency market that often, especially huge brands like Nebraska. This particular deal was also one of the first huge MMR deals signed in the post-NIL era, and there is language in the contract, outside the scope of this particular newsletter, that signals potentially new and unique partnerships in this space.
But it's also interesting because based on my mentions, and the comments that I read over the internet...there was some real confusion about what, exactly, multimedia, or MMR, rights actually are.
If that's you, don't feel bad! MMR rights aren't as straightforward as apparel contracts or broadcast deals, even though they can be way more important for most programs.
I called up the president of one of the largest firms in this space to help clear up exactly what these deals are, and why a school like Nebraska might make a whole lot of money from there.