Each summer, Emory University's Michael Lewis compiles a list of the top fan bases in the NFL heading into the upcoming season. To come up with his lists, he uses a series of models and studies to determine which fans follow their teams the most no matter the size of the market. These models are Fan Equity, Social Media Equity and a model he added for this year, Dynamic Fan Equity.
Michael Lewis explains each Equity, "The DFE (Dynamic Fan Equity) measure leverages the best features of the two measures. Fan Equity is based on the most important consumer trait-willingness to spend.