Correct, which is why they sell the package as an exclusive for more than the the customer can make back.I disagree.
What works for the NFL is a regular and rather large income.
The NFL has no “partner” vis ST. It has a customer.That's the whole point of looking for a new partner who will be handling all of the gory details. The fact that the NFL was willing to suffer along with the number of eyeballs that DIRECTV.
As to the “number of eyeballs”, that would be something like 95% of the country, which is how many people CAN get the service if they wanted it. The idea that some random guy is setting in his recliner watching some crap game because he has sworn to be damed if he ever dumped cable for DBS, is just not accurate.
Thinking anyone will pay one cent more for ST than they can expect to make back, on a non-exclusive basis, is just a basic misunderstanding of math.