Atlanta Braves Holdings, Inc. reported a total revenue of $662.7 million for the fiscal year ending December 31, 2024, marking an increase of 3.5% from $640.7 million in 2023. The company's baseball segment generated $595.4 million, up from $581.7 million the previous year, driven by new sponsorship agreements and contractual rate increases, despite a decline in attendance and fewer postseason games. The mixed-use development segment also saw growth, with revenue rising to $67.3 million from $59.0 million, primarily due to increased rental income and parking revenue.
The company's operating loss improved to $39.7 million in 2024 from a loss of $46.4 million in 2023. This change was attributed to a combination of increased revenues and a reduction in certain operating costs, including a decrease in variable concession and retail expenses due to lower attendance. However, total operating costs rose to $702.4 million from $687.1 million, largely due to increased player salaries and expenses related to Major League Baseball's revenue-sharing plan.
In terms of strategic developments, Atlanta Braves Holdings underwent a significant corporate governance transition in September 2024, following its split-off from Liberty Media in July 2023. This transition involved the appointment of new executive officers from the Braves' operating team, which is expected to enhance operational efficiency and decision-making. The company also continues to develop The Battery Atlanta, a mixed-use complex surrounding Truist Park, which is anticipated to drive further revenue growth through increased game attendance and retail activity.
As of December 31, 2024, Atlanta Braves Holdings reported total assets of $1.52 billion, with liabilities amounting to $987.6 million. The company had approximately 1,450 employees and maintained a strong cash position of $110.1 million. Looking ahead, the company expects to continue leveraging its mixed-use development to enhance revenue streams while managing operational costs effectively. The outlook remains cautious, with potential impacts from economic conditions and competition within the sports and entertainment sectors.
About Atlanta Braves Holdings, Inc.
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