The company calls the division that includes its 312 radio stations the Local Marketing Solutions segment. That division was up $900,000, or 1.2%, to $76.1 million. Excluding political revenue, that division would have been up 2.5%. Townsquare’s Entertainment division, which includes live events and concerts, decreased over 35% or nearly $7 million to $12.3 million.
The company says that was due to the timing of one live event and the sale of other events the company no longer hosts. CEO Steven Price said pacing looks good for events moving forward. Overall, net revenue for the quarter decreased $6 million, or 6.4%, to $88.4 million, as compared to $94.4 million in the same period last year. Townsquare lost $3 million in the quarter, an increase of $1.6 million, or 117.5%, as compared to $1.4 million in Q1 of 2016.
