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Tuesday, April 16, 2024
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Braves Revenue Up Again Despite Early Playoff Exit

  • MLB club posts gains in both baseball, development revenue.
  • Company leader predicts Diamond Sports Group will not reject Braves TV rights.
Dale Zanine-USA TODAY Sports

The Atlanta Braves’ 2023 playoff bid ended quickly and unexpectedly, part of an upset-laden MLB postseason. But a banner end of the regular season fueled another robust quarter for the Braves financially.

Following strong earnings in the second quarter in the club’s first financial disclosure since spinning off from parent Liberty Media, the Braves reported an 11% jump in revenue for the third quarter to $272 million. Operating income swung from a loss of $4.7 million in the comparable period a year ago to a gain of $15.7 million.

Fueling the boosts were a Truist Park-record attendance total of 3.2 million that included 54 sellouts and double-digit percentage growth in baseball-related revenue and from the adjacent Battery mixed-use development.

Despite the abrupt Division Series loss to Philadelphia after a league-leading, 104-win regular season, the latest Braves’ results extend the club’s standings as one of MLB’s top performers both on and off the field.

“It was an incredible season on and off the field, even if the playoff run was obviously more disappointing and ended earlier than we hoped,” Atlanta Braves Holdings chair Greg Maffei told analysts. 

TV Predictions

The Braves’ ongoing strength also extends to the fractious situation surrounding the bankrupt Diamond Sports Group. As MLB has asked a U.S. bankruptcy court in Texas for immediate answers on the Bally Sports parent’s plans for the 2024 season, Maffei projected that DSG will retain the Braves’ regional broadcast rights.

The Braves are currently shown on Bally Sports South.

“Our understanding is this is among, if not the most profitable of DIamond’s RSNs, reflecting the large territory we have … I don’t not believe [the rights] will be rejected,” Maffei said. “But given the strength of the territory and the strength of the Braves, I do believe we could replace that revenue stream or a good portion of it at least with other alternatives.”

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