The debut season of SunTrust Park was a major factor in a substantial revenue boost for the Atlanta Braves, according to the latest numbers.
In 2017, the Braves opened the brand-new SunTrust Park in Cobb County along with Battery Atlanta, an adjacent mixed-use development. Both the ballpark and the Battery have been hailed for their design and technology features, and it seems that they played a role in a significant revenue increase for the Braves.
According to numbers from Liberty Media, parent company of the Braves, the team generated $386 million in revenue in 2017, marking a 47% uptick from the $262 million generated in 2016. In presenting the numbers, the company noted the contributions made by SunTrust Park and Battery Atlanta. More from The Atlanta Journal-Constitution:
Liberty Media CEO Greg Maffei described the increase as “astounding,” saying in a news release that it demonstrated “the appeal of the new SunTrust Park and (adjacent mixed-use development) Battery Atlanta.”
Liberty said the Braves posted revenue boosts of 76 percent from ticket sales, 31 percent from concession sales and 45 percent from retail sales, compared with their final year at Turner Field in 2016. Attendance increased by 23 percent, and ticket prices rose. The opening of The Battery provided a new revenue stream.
Expenses also increased sharply, and Liberty Media said the Braves had an operating profit before depreciation and amortization of $7 million. That compared with a loss of $16 million in the same measure the year before.
During the 2017 season, our own Kevin Reichard wrote a feature on SunTrust Park’s effective incorporation of technology features and social spaces. SunTrust also received Ballpark Digest’s Ballpark of the Year Award for 2017.