The company has yet to schedule an official earnings call, but Townsquare Media is providing an early look into its end-of-2024 financials. A new SEC filing sees CEO Bill Wilson touting, “A very strong fourth quarter,” for the “Digital First” broadcaster.
Preliminary estimated financial results for Q4 and the full year ending December 31, 2024, align with Townsquare’s prior guidance. Full-year net revenue is expected to range between $450 million and $452 million, with fourth-quarter net revenue projected between $117 million and $119 million.
For digital performance, Wilson noted, “Townsquare Interactive returned to year-over-year revenue growth, and Digital Advertising net revenue accelerated to year-over-year growth rates in excess of +15%. We expect fourth-quarter Digital revenue to increase approximately +11% year-over-year, representing 52% of Townsquare’s net revenue for 2024.”
Townsquare Media is also expanding its Media Partnerships division again, which offers white-label digital advertising services to other local media companies. Following its October 2024 partnership announcement with SummitMedia, the company has signed an agreement with another local media provider operating in two markets. The new partnership is expected to launch in the summer of 2025.
Additionally, the broadcaster repurchased $12 million in Senior Secured Notes during Q4, bringing its total for 2024 to $36 million. Townsquare ended the year with $467 million in debt and $33 million in cash. Wilson emphasized, “The combination of our healthy balance sheet, ongoing digital strength, and Digital First Local Media strategy reinforces our confidence in achieving long-term, sustainable growth.”
If previous years are any indicator, Townsquare’s FY2024 earnings report and call can be expected around the second week of March.
“Digital First Broadcasters”
If ever there was an oxymoron. At least they see where the puck is going
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