Atlanta Braves Holdings, Inc. (NASDAQ: BATRA) today reported third-quarter 2023 results.
Total revenue grew 11% to $272 million in third quarter; Baseball revenue was up 11% to $256 million; Mixed-use development revenue up 10% to $16 million; Mixed-use development generated $11 million of Adjusted OIBDA in third quarter. In 2023, the club secured its sixth consecutive National Leagie East Title, besides boasting 54 game sellouts and 3.2 million tickets sold for 2023 season
In July, Liberty Media Corporation completed the split-off of the Braves and its associated mixed-use development into the separate public company Atlanta Braves Holdings. The businesses and assets at Atlanta Braves Holdings consist of Braves Holdings, LLC, the owner and operator of the Atlanta Braves Major League Baseball Club, and certain assets and liabilities associated with the Braves’ ballpark and mixed-use development, called The Battery Atlanta, which were previously attributed to the Braves Group tracking stock of Liberty Media.
For purposes of this presentation, Atlanta Braves Holdings standalone results, assets and liabilities represent the combination of the historical financial information of the Braves Group until the date of the Split-Off.
Although Atlanta Braves Holdings was reported as a combined company until the date of the Split-Off, it is now a consolidated company and all periods reported in this presentation are referred to as consolidated.
BATRA shares closed Thursday at $39.65.
