Revenue Growth and Strong Adjusted OIBDA Improvement
Total revenue of $732,000,000 in 2025, up ~$69,000,000 from $663,000,000 in 2024 (~+10.4%). Adjusted OIBDA rose to $108,000,000 in 2025 vs $40,000,000 in 2024 (+170%), driven by higher baseball and mixed-use development results. Operating loss narrowed to $14,000,000 from a $40,000,000 loss in 2024 (improvement of $26,000,000). Cash and cash equivalents were $100,000,000 as of 12/31/2025.
Baseball Segment Revenue Increases
Baseball revenue increased to $635,000,000 in 2025 from $595,000,000 in 2024 (+$40,000,000, +6.7%). Broadcasting revenue grew to $189,000,000 from $166,000,000 (+$23,000,000, +13.9%). Baseball event revenue rose to $358,000,000 from $348,000,000 (+$10,000,000, +2.9%). Other baseball revenue increased to $42,000,000 from $34,000,000 (+$8,000,000, +23.5%).
Mixed-Use Development Momentum
Mixed-use development revenue was $97,000,000 in 2025, up $30,000,000 from $67,000,000 in 2024 (+44.8%), representing ~13% of company revenue. PennantPark occupancy improved to ~90% from the low-80% range at closing; Q4 saw ~50,000 sq ft of new deals. Tenant sales milestone ~ $137,000,000 across 30 doors and nearly 9,000,000 visitors to The Battery in 2025.
Record Ticketing and Strong Fan Demand
Delivered record-breaking regular season ticket sales and sponsorship revenue in 2025; sold the fourth-highest number of tickets in 25 years. For 2026, more than 1,900,000 tickets already sold across season, groups, hospitality and single-game inventory. Premium clubs sold out with robust waitlists; ticketing analytics investments improving marketing efficiency and conversion.
On-Field Roster Additions and Positive Preseason Momentum
Significant additions and depth including Robert Suarez (ESPN #1 reliever), Raisel Iglesias, Jorge Mateo, Mauricio Dubon, Tyler Kinley, Joel Payamps and an extension for Chris Sale. Core talent includes the reigning NL Rookie of the Year Drake Baldwin, Gold Glove Matt Olson, Ronald Acuña Jr., Austin Riley and Spencer Strider. FanGraphs preseason ranked the Braves #2 in the majors, signaling strong expectations for competitiveness.
The Battery as a Year-Round Destination
The Battery hosted 380 total events in 2025 (144 campus events, 147 Coca-Cola Roxy, 95 game day/Truist Park events), plus notable concerts and special activations (e.g., Braves Country Fest, Noah Kahan), reinforcing diversified, repeat-visitor demand and creating non-baseball revenue drivers.
Strategic Control of Local Media Rights (Brave Vision / brave.tv)
Announced Brave Vision (Brave.tv) to bring local broadcast production, distribution and monetization in-house. Partnership with Gray Media for over-the-air simulcasts and an MLB streaming partnership enables multi-platform distribution and territorial streaming, creating a direct monetization opportunity across one of the largest TV territories in sports.