“Sometimes it takes a challenging macroeconomic environment to serve the purpose of highlighting how truly differentiated Townsquare is from others in local media,” said Townsquare Media CEO Bill Wilson in the company’s latest earnings report. “We began as a traditional broadcast company, and we are now a Digital First Local Media Company.”
That’s especially evident this past quarter, as digital revenue approaches 60% of the company’s total revenue and is credited by leadership with offsetting continued weakness in broadcast.
For Q1 2025, Townsquare posted net revenue of $98.7 million, down 1% year-over-year. Excluding political ad revenue, the drop was narrower at 0.5%. The company’s net income declined $3.1 million in Q1 2024, resulting in a net loss of $1.5 million.
As it has since 2023, Townsquare’s digital business continues to outpace its broadcast operations. Digital Advertising revenue rose 7.6%, and revenue from the company’s Subscription Digital Marketing Solutions increased 4.2%. Digital now represents 57% of total revenue and 62% of segment profit.
Total segment profit from digital operations grew 16.2% year-over-year in Q1, with a 25% profit margin. By contrast, Broadcast Advertising revenue fell 9.1% or 8.3%, excluding political, a continuation of the longer-term shift away from traditional platforms.
The company completed a significant debt refinancing in February, replacing its 2026 notes with a new $490 million credit agreement that extends maturities through 2030. Wilson said the move gives Townsquare “a long operating runway” to focus on “net leverage reduction and future dividend payments.”
Despite increasing economic concerns around tariffs, Townsquare is standing by its full-year projections. For Q2, the company expects net revenue between $114 million and $116 million. “We are reaffirming our 2025 full year guidance for both net revenue and Adjusted EBITDA,” said Wilson, “driven by the continued strength of our differentiated digital platform.”
Wilson summed up the company’s outlook: “In 2025, we have the same goal that we had when Townsquare was formed in 2010. We want to continue to be best-in-class in entertaining and informing our audiences and communities across all platforms while super-serving our clients and partners.”
The original… they Stop selling radio and start pushing the digital crap. You all paved the way for every radio group to stop focusing on their cash cow crop which is radio and start making other companies money through digital sales….smart smart smart for the company bad bad, bad for radio.