Atlanta Braves Holdings Inc

Latest Results (08.01.2025):

Total Revenue Growth

Atlanta Braves Holdings Inc. reported a total revenue of $291 million for the third quarter of 2024, marking a 7% increase from the $272 million recorded in the same period of the previous year. This growth was driven by increases in both baseball and mixed-use development revenues.

Baseball Revenue Increase

In the third quarter of 2024, Atlanta Braves Holdings Inc. saw a 7% rise in baseball revenue, reaching $273 million. This increase was attributed to new sponsorship agreements and higher contractual rates on season tickets and existing sponsorship contracts, despite a slight decline in regular season home game attendance.

Mixed-Use Development Revenue

The mixed-use development segment of Atlanta Braves Holdings Inc. experienced a 12% revenue growth in the third quarter of 2024, totaling $17 million. This was primarily due to higher parking revenue and increased rental income related to tenant recoveries at The Battery Atlanta mixed-use facilities.

Operating Income and Costs

Atlanta Braves Holdings Inc. reported a decrease in operating income to $6.4 million for the third quarter of 2024, down 59% from the previous year. This decline was largely due to increased baseball operating costs, including higher major league player salaries and expenses related to MLB’s revenue sharing plan.

Adjusted OIBDA Decline

The adjusted OIBDA for Atlanta Braves Holdings Inc. fell by 22% in the third quarter of 2024, amounting to $31.4 million. The decrease was mainly due to the rise in baseball operating costs, although selling, general, and administrative expenses remained relatively stable during this period.