This statistic counts the number of times an intended receiver touches the ball but fails to catch it. If the ball is thrown but the receiver never gets his hands on it, it is not recorded as a drop. Lots of players put up big yardage but also drop a lot of passes, elite receivers put up the numbers and maintain a low drop percentage.
More about Dropped Passes
Usually receivers who play the slot position tend to drop the ball less because they catch shorter passes and are known for their 'good hands' over and above other physical attributes like speed and size.
It's easy to blame the wide receiver for dropped passes, but partial blame can sometimes fall on the quarterback. Consistently throwing into tight situations or slight accuracy issues can lead to a higher percentage of drops as well.
**Note: Drop statistics take 24 hours following a game to update**