Basis of Presentation (Policies) |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Basis of Presentation | |
| Revenue Recognition | Revenue Recognition Following the termination of the previous long-term local broadcasting agreement, the Braves announced in February 2026 the creation of BravesVision, a multimedia platform owned and operated by the Company that is the official local television home of the Braves. The Company’s revenue recognition policies summarizing the nature, amount, timing and uncertainty associated with each major source of revenue from BravesVision contracts are described below. Media Related – BravesVision Each Club has the right to authorize the television broadcast, within its home television territory, of games in which it participates, subject to certain exceptions. Local broadcasting revenue includes linear subscription-based affiliate revenue earned from fees charged to cable, satellite, and other platforms ("Distributors"). The performance obligation under each affiliation agreement is a license to distribute BravesVision programming over the term of the agreement, which is typically at least 12-36 months. All the consideration in the Company’s affiliation agreements is in the form of usage-based royalties, and as such, consistent with the royalty recognition constraint, revenue is recognized as the usage occurs based upon contractual rates applied to the number of the Distributor’s monthly subscribers who receive or can receive BravesVision. Such subscriber information is reported on a lag by the Distributor after the close of the reporting period, and as such, the Company estimates the number of subscribers based upon historical information. Once received, an adjustment is recorded to reflect the actual subscriber information. The Company derives linear advertising revenue through the sale of commercial spots and other advertising inventory that are broadcast on BravesVision, primarily during Braves baseball games, and as a result, a significant portion of this revenue is earned during the MLB season. These advertising arrangements are generally short-term in nature and typically do not exceed one year, with the specific terms determined at contract execution. Certain advertising arrangements guarantee certain viewer ratings to be achieved as the advertising inventory is delivered. Advertising revenue is recognized as the related inventory is delivered, subject to the achievement of guaranteed viewer ratings. A contract liability is recognized as deferred revenue to the extent any guaranteed viewer ratings are not met. This permits the customer to exercise a contractual right for additional advertising inventory to achieve such guarantee. The related deferred revenue is subsequently recognized as revenue when the Company achieves the guaranteed viewer ratings. |
| Income Taxes | Income Taxes Due to sensitivity in our estimated annual effective tax rate (the “AETR”) based on minor changes to our projected annual earnings (loss) before income taxes and the seasonality of our revenue, the Company is unable to reliably estimate our AETR as of the interim period. As a result, the Company has calculated the tax provision from income taxes for the three and six months ended June 30, 2026 and 2025 based upon a discrete effective tax rate model which treats the current year to date period as if it were the annual period. |