Atlanta Braves see first-quarter revenue increase 20% from same period last year, and expenses also up

The first quarter financial results are “the least impactful of the Braves’ four earnings reports each year.”Getty Images

The Braves reported an “increase in revenue – and expenses” – for the first quarter of 2024, according to Tim Tucker of the ATLANTA JOURNAL-CONSTITUTION. Braves Holdings generated total revenue of $37 million in the January-March quarter, “up 20% from the same period last year.” But the increase in revenue was “more than offset by an increase in expenses during the quarter.” Of Braves Holdings’ $37 million in revenue in the first quarter, $22 million came from “baseball-related streams” (up 25% from the same quarter last year). and $15 million from The Battery (up 13%). Brian Wendling, Braves Holdings’ chief accounting and chief financial officer, said the increase in baseball-related revenue “primarily reflects higher broadcast costs” due to the greater number of regular-season games (three, all on the road) played in the first quarter. this year than last year (one, also on the road)”, while “greater attendance at home spring training games also increased baseball revenues”. Tucker noted that the financial results of the first quarter are “the least impactful of the Braves’ four earnings reports each year.” The Braves recorded an operating loss before amortization of $33.7 million in the January-March quarter, compared to a loss of $31.4 million for the same period last year After deducting $14.9 million in depreciation and amortization and $3.7 million in stock-based compensation, the Braves recorded a loss. operating loss of $52.3 million for the quarter, compared to an operating loss of $49.3 million for the corresponding three-month period last year. Meanwhile, the president and CEO. Braves Holdings executive Greg Maffei, in a conference call yesterday, said the Braves “have sold 93% of our season ticket capacity to date” (ATLANTA JOURNAL-CONSTITUTION, 5/8).