Townsquare Q1 Revenue Jumps 6.7%

The company reported performance was solid across all divisions. CEO Steven Price said, “We grew pro forma net revenue 6.7% and saw particular strength in many of our local markets.” Local advertising net revenue increased 4.4%, political revenue was $1.4 million in the quarter, and other media and entertainment net revenue increased $3.4 million, or 45.3%, to $11.0 million. Townsquare’s other revenue is generated from digital, community fun runs, craft beer events, and community expos. The company’s live event business decreased 2.2% due to the timing of specific events.