ISP approaches individual colleges to get the lease to all of their media rights. They offer a guaranteed amount in exchange, along with a percentage of the upside over that amount. In other words, they guarantee a school that they will sell X amount and then some. Then, ISP turns around and solicits advertising using these rights in all mediums for different client teams, stadiums, arenas, etc. Any amount they make beyond all guaranteed to the school, they keep as profit. ISP may sell to advertisers locally, regionally through conference deals, or nationally across conferences to maximize ad acquisitions.