https://scholarblogs.emory.edu/esma...longs-to-the-cowboys-or-perhaps-the-steelers/We have run the numbers using both revenues and social media, and we have some expected and some surprising results regarding NFL fan bases. In a repeat from last year, the Cowboys have the top fan base in terms of our “Fan Equity” metric. This is a measure of brand equity that is based on fans willingness to financially support their team. Our rankings are based on the average Fan Equity score for the last three years (please note that the statistical model is estimated using the last thirteen years of data). But Dallas is no one time wonder; the Cowboys have taken the honors for this metric for the last five years. Following Dallas, are the fan bases of the Patriots, Jets, Giants and Colts.
At the bottom of the list we have a happy surprise! The Atlanta Falcons have moved to the middle of the pack and rank 22nd. We are thrilled by this result. The bottom five includes Buffalo, Jacksonville, Cleveland, Miami and Oakland. The team ranked sixth from the bottom is likely to raise some eyebrows. The numbers suggest that while the Seahawks fans are very loud, they are a below average fan base on the Fan Equity metric. At the end of the day, it appears that Seahawks fans are not willing to pay the prices that you would expect for a team of the quality of the Seahawks in a market with the demographics of Seattle.
No metric is perfect (though a revenue-premium based model that is derived from a statistical analysis of thirteen years of data is a pretty good one for a profit and brand-conscious industry like professional football). Therefore, we supplement our Fan Equity analysis with a look at social media followings across teams. Our “Social Media Equity” measure is again based on an analysis of how strong each team’s social media following is after controlling for team quality and market characteristics. Social Media Equity therefore has some beneficial properties. Most importantly, it is not constrained by stadium capacities or team pricing policies. It also provides a means for capturing national level brand equity. Of course, we recognize there are limitations to this metric, especially related to the choice of social media platforms and the “engagement” of followers.