I think the AFL is currently getting roughly what its worth. Its not worth $1b. They have virtually no value in NSW and QLD where half the population is.
That said, we are grossly undervalued.
Even though we have a much better viewing game for tv, origin and tests, we are probably worth the same as the AFL, as their games are longer, have more ad breaks and has some market value and exposure in all the capitals. Gallop talks up the AFL's advantages but he ignores ours. We are probably on par.
How can we improve our value compared to AFL? get into the TV markets that are counted for advertising revenue (Perth a priority, a second NZ team and more QLD would help here), somehow make the games go longer, or get more adds into the broadcast, offer more games per week (more teams), but most importantly, build a free to air tv viewership in the AFL states.