P5 conferences don't want to expand the money distribution. Plus with decreasing cable subscriptions, the money may become scarcer in the future at renegotiation time.

The American conference may have some average to pretty good teams, but they are all secondary programs in their state/area etc. There isn't a single powerhouse program to lead the conference and make it stand out. The SEC has Alabama, LSU, Georgia. Big 12 has OU and Texas. ACC has FSU (yeah it's a bad year) and Clemson. Those teams alone draw viewers across the country with the big name and brand associated with them. If you look at the AAC teams, there just isn't a single program like that.

Houston will always be behind Texas and Texas A&M, not to mention Texas Tech and TCU.

Memphis will be second to Tennessee and Vanderbilt

Navy is unique, but not a powerhouse program due to its limitations as a military academy

Tulane has LSU

Temple has Penn State and Pitt in their state

Tulsa has Oklahoma and Oklahoma State

USF has Florida, Florida State, and Miami.

East Carolina has UNC and Duke

Cincy has Ohio State

Sure BYU and BSU come with a much stronger "brand" than any of the other teams in the AAC. They're the best universities in their respective states and have pretty good sports programs (Boise basketball has gotten better, right?) But do they really push the AAC into a better $$$ draw than a typical Big 12 game?