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Then how did the NHL get from $732 million in revenue in 1993-94 to $2.2 billion or so this past season? (Hint: it sure as hell wasn't due to TV money.)
More teams and more games?
Hmm ... I'm going to guess that Atlanta also saw revenues increase due to making the playoffs. Phoenix probably didn't, but [I'll throw this one in for free] Carolina clearly did, and that's before factoring in the revenue they got from Stanley Cup merchandise. And again, none of those increases had anything to do with TV money.
Next?
Yet the number of teams making the playoffs each year is fixed, and so is the number per round.... any conclusions to be drawn from that observation?