Townsquare Media has long been led by its off-air business, but will the Digital First Local Media Company’s digital revenue reach 60% of total share by year’s end? Q2 financials suggest it’s within reach, and for now, it’s powered the company back to profitability after a loss in the first quarter.
In its earnings release, CEO Bill Wilson emphasized digital as the company’s growth driver.
“Due to our robust local presence and holistic set of local and digital marketing solutions available to our local clients, we were able to navigate revenue pressures caused by April’s Liberation Day and achieve our total net revenue guidance, while continuing to thoughtfully manage our expense base and deliver Adjusted EBITDA above our second quarter guidance,” he stated.
In the first six months of 2025, Townsquare’s total digital net revenue grew 4.1% year-over-year, with digital advertising up 4.8% and subscription digital marketing solutions rising 2.8%. Combined, digital accounted for 55% of total net revenue and 56% of segment profit in the first half, with the two segments posting a combined 9.4% segment profit increase and a 27% margin.
For the quarter ended June 30, net revenue fell 2.3% year-over-year to $115.4 million, or 1.6% excluding political.
Broadcast advertising revenue dropped 9.2% to $48.2 million, while digital advertising grew 2.4% to $42.4 million, and subscription digital marketing solutions increased 1.4%. Additional revenue, which includes live events, rose nearly 20% on the strength of in-person events.
Ultimately, net income landed at $2.0 million, putting the company back in the black for Q2 after a $48.9 million loss in Q2 2024, aided by lower impairment charges, gains on asset sales, and reduced stock-based compensation.
The company repaid $9.9 million in debt during the quarter, part of $13 million paid down since a February refinancing. Townsquare’s board approved a quarterly dividend of $0.20 per share, payable November 3 to shareholders of record on October 27, maintaining a yield of about 12% based on recent closing prices.
For Q3 2025, Townsquare projects net revenue between $106.5 million and $108.5 million. Full-year guidance remains at $435–$440 million in revenue.
