Pac-12 revenue fell by $12 million in 2018 to $497 million because the conference could not make up for lost Rose Bowl revenue from when the game hosted a College Football Playoff semifinal after the 2017 season.
Payouts to Pac-12 member schools rose 5 percent to $31.3 million each as conference distributions included money held back from Rose Bowl payments in the previous two years. The Pac-12's Rose Bowl revenue dropped from about $36 million in each of the seasons during which the conference's champion participated in the game to about $14 million when it hosted the CFP.