The SEC may not be winning the national championship every year anymore, but the league's network is king.
Based on research by SNL Kagan, AL.com reports that the SEC Network is valued at more than four times what the Big Ten Network, and absolutely swamps the fledgling Pac-12 Networks.
The SEC Network is valued at $4.692 billion -- a slight dip from its 2015 valuation of $4.77 billion -- while the Big Ten Network is at $1.142 billion and Pac-12 Networks lags behind at $305 million. In 2015, SNL Kagan valued the Big Ten Network at $1.59 billion.
Not everything is totally rosy for the SEC Network, however. The ESPN subsidiary, like its parent company, has lost millions of subscribers due to cord-cutting and other factors.
The SEC Network's lofty valuation is despite losing eight million subscribers in the last two years, according to SNL Kagan estimates. Most industry experts have assessed SEC Network at 70 million subscribers -- the estimates pegged it at 69.1 million in Aug. 2015 -- but SNL Kagan end-of-2016 data put it at 61.4 million subscribers. If those estimates are accurate, that's loss of $70 million in subscriber fee revenue.
There are two Power Five conferences without a network at this time: the ACC and Big 12. The linear ACC Network, which like the SEC Network will be under the ESPN umbrella, is still scheduled for a 2019 launch, despite the parent company's recent highly publicized layoffs. The Big 12 does not have similar plans for a network, likely complicated by the Longhorn Network, another ESPN property.
While cord-cutting is impacting sports networks across the board, and especially ESPN, the SEC Network still looks like the clear winner among conference-specific channels.