Instead of working with ESPN or FOX like the SEC and big 10 did the Big 12 should be exploring this with Apple or Google. 10 years ago no one had DVRs, now just about everyone I know has one. I don't own an Apple TV, but if there was a Big 12 Network only available on something like that I'd get one.
This is what that would be to the Big 12 or any other conference that attempted to go with apple, google, netflix, hulu, etc
The NBA which is a global entity decided that they didn't want to take that risk. Any conference, including the SEC is a regional entity. Take that already small market share and then shave it way down. Essentially take the number of televisions that get ESPNU or Fox Sports2 and then cut it in half at best. There are diehard college sports fans that don't have cable television, even fewer with satellite tv. Taking that next step is a huge ask of the consumer and of the conference.
Sports absolutely does not lead to distribution over non-traditional channels, and as more conferences, leagues, and networks make the programming available digitally for no additional cost there is no space for google, apple, etc.