The significant increase in televised intercollegiate athletics over the past couple of decades presents institutions with a set of powerful opportunities to reach external constituents in ways that translate into donations and applications. Given the broad reach of television and its power in developing a university or college as a brand, it may be that the real question is not one of winning and giving, but instead of the impact of exposure on moving toward institutional goals. After reviewing the research literature on athletic success and fundraising and admissions, the author explores the idea of "advertainment," suggesting that athletics as entertainment and universities as a product merge through televised spectator sports. He then considers the theories of affective classical conditioning (AC) and mere exposure (ME), both of which television also enables. Finally, he explores how television encourages individuals to identify with institutions. In doing so, he suggests that television exposure may be a better predictor of improvements in fundraising and admissions than is winning. (Contains 3 notes.)