Big question #1: How does the NCAA make money?

Quick answer: March Madness accounts for ≈ 80% of total revenue.

Big question #2: What share of the NCAA’s revenue comes from media rights?

Quick answer: ≈ 74%

Recent media rights deals (% change) for NCAA March Madness, according to Indianapolis Business Journal:
1) 1994 – 7-years @ $1.7B → $247M/year
2) 2003 – 11-years @ $6.0B → $545M/year (↑ 121%)
3) 2010 – 14-years @ $10.8B → $771M/year (↑ 41%)
4) 2016 – 8-years @ $8.8B → $1.1B/year (↑ 43%)

Big question #3: Who are favorites in this year’s tournament?

Quick answer: Gonzaga, Kentucky, and Arizona.

Big question #4: Which schools spend the most money on basketball?

Quick answer: Duke and Kentucky.