Braves Owner Says Revenue Increase Due To Ticket, Concession Sales
Braves owner Liberty Media said that the team's 14% increase in revenue for Q2 can be attributed to "more home games" and "higher revenue per game 'primarily due to increased ticket and concession sales,'" according to Tim Tucker of the ATLANTA JOURNAL-CONSTITUTION. The Braves’ operating profit "before depreciation, amortization and stock-based compensation" was $62M for Q2, down 3% from $64M in the same period last year. After depreciation, amortization and stock compensation, the team’s operating profit in the quarter was $36M, down from $37M a year earlier. Liberty CEO Greg Maffei said attendance "looks good so far this season, aided by strong on-field performance.” The Braves are averaging 32,895 per game in attendance through 57 home games, an increase of 1,252 per game from the same point last year. The Braves "continue to carry considerable debt, stemming from the construction of SunTrust Park and The Battery." Liberty said that the team had debt of $470M as of June 30, down from $480M as of March 31 (ATLANTA JOURNAL-CONSTITUTION, 8/8). Liberty said that the drop in operating profit is "because its revenue growth was offset by elevated operating expenses driven by higher player salaries, costs for the new spring training facility, scouting expenses and stadium operation costs driven by concessions" (BIZJOURNALS.com, 8/8).