MLB's fragmented schedule is eroding franchise value. The Reds are down 9.4%.

The Cincinnati Reds are valued at $1.4B — down 9.4% year-over-year per Matchex analysis. That's not just market noise. A synchronized Opening Day isn't nostalgia. It's a $200M-plus broadcast event that every team monetizes together. When you splinter the schedule across platforms, you splinter the audience, dilute the sponsorship premium, and destroy the media partner's incentive to bid aggressively at rights renewal.