Atlanta Braves Holdings Inc
F:E450
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Atlanta Braves Holdings Inc
F:E450
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Atlanta Braves Holdings Inc
Atlanta Braves Holdings owns the Atlanta Braves baseball team and the real estate development around its ballpark in Cobb County, Georgia, known as The Battery Atlanta. Its business is built around a Major League Baseball franchise, so it sells a mix of game-day experiences, media rights, sponsorships, merchandise, and related entertainment services to fans and corporate partners. The company also earns money from the district next to the stadium, where it leases space to restaurants, shops, offices, hotels, and event venues. That means its customers include baseball fans, advertisers, local businesses, and visitors who come for concerts, dining, and other events, not just people attending games. What makes the company unusual is that it combines a sports team with a property and entertainment district tied to the team’s home park. The baseball side depends on season tickets, broadcasts, and brand partnerships, while the real estate side brings in steady rental and event income from a destination built around the Braves brand.
Atlanta Braves Holdings owns the Atlanta Braves baseball team and the real estate development around its ballpark in Cobb County, Georgia, known as The Battery Atlanta. Its business is built around a Major League Baseball franchise, so it sells a mix of game-day experiences, media rights, sponsorships, merchandise, and related entertainment services to fans and corporate partners.
The company also earns money from the district next to the stadium, where it leases space to restaurants, shops, offices, hotels, and event venues. That means its customers include baseball fans, advertisers, local businesses, and visitors who come for concerts, dining, and other events, not just people attending games.
What makes the company unusual is that it combines a sports team with a property and entertainment district tied to the team’s home park. The baseball side depends on season tickets, broadcasts, and brand partnerships, while the real estate side brings in steady rental and event income from a destination built around the Braves brand.
Strong start: The Braves said they are off to a terrific start on the field, with one of the best records in baseball, first place in the National League East, and league-leading offensive and pitching results through April.
BravesVision launch: Management said the new BravesVision media business launched quickly and is expected to meet or exceed the economics of the prior RSN agreement, while still being early enough that they are not ready to share many KPIs.
Revenue up: First-quarter revenue rose to $72 million from $47.2 million a year ago, helped by more home games and stronger mixed-use revenue tied to Pennant Park.
Profitability improved: Adjusted OIBDA improved to a loss of $17.6 million from a loss of $28.5 million, and operating loss narrowed to $41.3 million from $44.5 million.
Attendance and events: Attendance was strong early in the season, with about 33,000 tickets sold per game through the first 18 home games, 7 sell ups, and more than 100,000 fans at the Savannah Bananas series.
Balance sheet: Cash and cash equivalents were $135.2 million at March 31, and management said leverage remains supported by revenue-generating real estate assets and available revolvers.
Capital discipline: Management said upfront investment in BravesVision was relatively minimal because of the Raycom partnership, and they expect future ballpark-related capital spending to come down a bit after major master-planning projects.
