March Madness is the informal nickname that refers to the NCAA (National Collegiate Athletic Association) Division I men’s and women’s college basketball tournaments. The tournaments are usually held from mid-March through the beginning of April. It is a single-elimination tournament comprising 68 teams that compete in seven rounds for the national championship game (via NCAA).
Out of these 68 teams, 32 teams will receive an automatic qualification for winning their respective conferences. The 2025 March Madness kicks off with the First Four, which are four single-elimination games played to reduce the number of teams from 68 to 64 as per USA Today.
How much money does March Madness make for the NCAA?
The NCAA generated $1.28 billion in revenue during the 2023 fiscal year, as per Sports Business Journal. Out of $1.28 billion, $945 million was generated from media rights and marketing deals.
How are the earnings shared with conferences?
Conferences receive a minimum of $2 million for each team making it to the NCAA tournament, as per Front Office Sports.
Big 12: 8 bids, $16 million.
SEC: 8 bids, $16 million.
Big Ten: 6 bids, $12 million.
Mountain West: 6 bids, $12 million.
ACC: 5 bids, $10 million.
Pac-12: 4 bids, $8 million.
Big East: 3 bids, $6 million.
American: 2 bids, $4 million.
Atlantic 10: 2 bids, $4 million.
WCC: 2 bids, $4 million.
The other 22 conferences will be guaranteed $2 million each for their individual tournament bids, as per Front Office Sports.
How much does the NCAA earn from TV Broadcasting?
In 2010, the NCAA signed a 14-year, $11 billion deal with CBS and TBS, ending in 2024, as per USA Today. However, in 2016, they signed an eight-year extension that will last through 2032 for another $8.8 billion, as per the NCAA's official website. This means that in 2025, the NCAA will earn roughly $1.1 billion from broadcasting rights alone.
FAQs on March Madness
A. Each team gets worth about $2 million for making it to the NCAA tournament.
A. March Madness is only for the men and women college student-athletes in basketball.
A. Duke University has generated $45.1M in revenue in men’s basketball whereas University of South Carolina has garnered $9.5M in revenue in women’s basketball.
