IRVING, Texas — Big 12 revenues are up again and expected to surpass $40 million per school annually before the current media rights deal runs out in about five years.

Commissioner Bob Bowlsby says each university was receiving $38.8 million for 2018-19, or a total of $388 million in the 10-team conference. That’s about a 6 percent increase over last year. It is the 13th consecutive year of a revenue increase for the Big 12.

The figures announced Friday as the league wrapped up its spring meetings don’t include third-tier broadcast rights, such as what Texas gets through the Longhorn Network. Those totals vary by school.

Bowlsby said he anticipates Big 12 revenue reaching the mid-$40 million range per school before the TV rights deal expires in 2024-25. Bowlsby said the league has seen an increase of about 55 percent over the past five years.

The Big 12 revenue ranks third behind the Big Ten and the SEC.