Purpose: A substantial research base focuses on principal preparation program standards, design, and effectiveness. Little is known, however, about which institutions are preparing principal candidates and how many candidates they have produced since 2003. Our study provides the field with a better understanding of the overall preparation landscape and addresses issues of principal supply and demand. Research Methods: We use several national datasets in this exploratory study to track changes in educational administration degree production at the national, state, and university level from 2000 to 2014 as well as how these compare with changing K-12 student populations and principal demand. Findings: Key findings include (a) the number of institutions granting degrees in educational administration increased by 72% this century, (b) the total number of leadership degrees granted doubled over this time period and is substantially larger at all award levels (i.e., postbaccalaureate, master's, specialist, doctorate) in 2014 than 2000, and (c) the types of institutions offering educational leadership degrees and their production rates have changed dramatically over this time period. Implications: The supply of principal candidates far exceeds the number annual principal openings offering school systems greater choice among candidates. Further research is needed on the issues of readiness and career intentions of the candidates. The majority of growth in program offerings and degrees granted has been generated in less-resourced and less selective institutions. Researchers in the field have argued that adequate resources are critical to providing program components for effective principal preparation thus raising questions about the quality of program candidates.