College Football TV ratings matter. A lot. Conference re-alignment is far from over, and the Big Ten and the SEC are not accepting new programs unless the school (i.e. football team) moves the needle on the conference's TV ratings so that the conference can negotiate more lucrative TV deals. Even setting aside realignment, the ACC in all likelihood will be switching to a disproportionate revenue sharing model that favors the teams earning the highest TV ratings as part of the ACC’s anticipated settlement of the Clemson and Florida State lawsuits.
Determining who is the ‘most watched’ college football team is not a straight-forward endeavor.