Digital, digital, digital. That’s all we’ve been hearing about for the past few years as radio’s advertising growth stagnates, unless it’s a political year of course. Google and Facebook are taking our local revenue dollars, so bring on more consolidation is the latest cry. Townsquare may be throwing a little cold water on that argument.
Built from an idea from generated from a sales rep in St. Cloud, Townsquare has come up with a successful digital strategy that helps local clients compete in the competitive digital space, and add serious revenue numbers to the Townsquare digital piggy bank.
In the third quarter of 2018, revenue from Townsquare’s Interactive division was up 22.9%. Townsquare Interactive is expected to generate $50 million in revenue for Townsquare this year and the company believes that number will double over the next five years. Townsquare Interactive is a monthly subscription based digital marketing solutions program that started out with website hosting and has grown into a suite of digital offerings that clients can choose from to help them stand out in the local marketplace.
The reason Townsquare built this digital program for advertisers was they discovered their clients had no desire to use radio to send customers to a weak online product. So they went to work and created Townsquare Interactive which focuses on creating websites small businesses can be proud of.
Townsquare Interactive now has 14,500 monthly subscribers after adding another 850 in the third quarter. In 2019, the company expects to add another 3,000 subscribers. And, about half of the 14,500 subscribers Townsquare services come from markets where the company does not own any radio stations.