USC has won 46 of these games; UCLA 29. Seven have ended in ties.
The rivalry game, usually played at the end of the college football season, usually has implications in the Pac-12 conference, and often for the national title. At the very least, the winner has bragging rights as "owner" of Los Angeles for a whole year.
And, the winner holds onto the Victory Bell for a year. The supporting trolley is currently blue, because UCLA won last year.
The annual rivalry is not just a game in Los Angeles, it's week, Banners are up all over the place, with about a 50-50 split between USC and UCLA supporters. Even families are divided ... engaged couples ... brothers ... sisters ... it's incredible.
When I lived in Los Angeles for 10 years, I remember seeing booster signs all over the place. I remember seeing the Tommy Trojan statue sans his sword blade because UCLA pranksters had broken it off. I remember hearing stories about raids on the UCLA campus, and retaliatory raids on the USC campus.
This year, I've got one of those hard-to-find "fucla" tee-shirts that I plan to wear while watching the game from my couch. I'll have on my USC cap as well.