Atlanta Braves Holdings Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew to $732M in 2025, driven by strong ticket sales, sponsorships, and mixed-use development. BravesVision launches as the team takes control of local media rights, while The Battery Atlanta continues to deliver record tenant sales and year-round engagement.
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Q3 2025 revenue grew 7% to $312M, with strong gains in both baseball and mixed-use segments. Adjusted OIBDA more than doubled, and the PennantPark acquisition boosted rental income. Ticket sales and sponsorships hit records, and the outlook includes active player investment and continued fan experience enhancements.
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Q2 2025 revenue grew over 10% to $312M, driven by strong baseball and mixed-use development segments, with Adjusted EBITDA up to $66M. Despite major player injuries impacting team performance, the business model and real estate assets delivered robust results, and outlook remains positive for 2026.
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Strong organic growth in both baseball and real estate, with major inflection points ahead in media rights and labor negotiations. The integrated business model, innovative media strategy, and expanding development portfolio position the organization for continued value creation and industry leadership.
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The meeting covered director elections and auditor ratification, with both proposals passing by overwhelming majority. No questions were raised by stockholders, and final voting results will be filed in a Form 8-K.
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Q1 2025 revenue grew 27% year-over-year, driven by higher baseball and mixed-use development income. The Pennant Park acquisition expands the real estate portfolio, and new media partnerships are boosting fan engagement and streaming options.
Fiscal Year 2024
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Full-year 2024 revenue rose to $662.7M, driven by growth in both baseball and mixed-use segments, while operating losses narrowed. New media partnerships expand fan access, and The Battery Atlanta continues to grow as a year-round destination.
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Liberty is executing a major simplification, spinning off Liberty Live and merging Liberty Broadband with Charter, while focusing on motorsports, live entertainment, and digital transformation. Formula 1 and Live Nation are delivering record growth, and new investments in MotoGP and technology are set to drive future value.
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Revenue grew to $291M in Q3 2024, but operating income and adjusted EBITDA declined due to higher costs. Strong fan demand, ongoing investments in facilities, and new event opportunities support future growth, while media revenue faces uncertainty from Diamond Sports Group's bankruptcy.
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Strong financial results across SiriusXM, Formula One, Live Nation, and the Braves, with robust demand, record attendance, and expanding sponsorships. The SiriusXM merger and MotoGP acquisition are progressing, and capital projects are expected to drive future growth.
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The meeting confirmed a quorum, elected Brian Deevy to the Board, ratified KPMG as auditors, approved executive compensation, and set Say On Pay votes to every three years. No additional business was raised.