Since they aren't getting in a conference anytime soon and people are cord cutting, why couldn't BYU charge for a home game like USC or Wisconsin like $10 on a pay per view basis. If a few like that got 1 million subscribers - 999,000 from the visitor and about 1,000 from the cheap Mormons all watching on one TV 😉 - they could pay for some really big games on a split of the revenue. I'd pay $60 for "season tickets" to BYU since I can't go to many games since I live out of state. But to get all the home games like that would be awesome.
I think this kind of model could really mess up the conferences if it worked. Besides being able to pay a bunch to get big name teams here by giving a percentage of the ppv revenue I think you would see the Texas, Alabama, USC, and ohio states of the world look at it as an option. If the TV revenue is dying up they could get way more as an independent.