Townsquare Media used a virtual investor presentation this week to underscore a vital message: broadcast radio remains central to the company’s model, even as digital operations are expected to drive renewed growth beginning in the second half of 2026.
Townsquare Media CEO Bill Wilson, CFO Stu Rosenstein, and Investor Relations and Corporate Communications head Claire Yenicay appeared on Wednesday at Noble Capital Markets’ Emerging Growth Virtual Equity Conference, in a session moderated by broadcast financial analyst Michael Kupinski.
Wilson framed the company’s strategy around its concentration in smaller and mid-sized markets, many of which he described as increasingly underserved by traditional local news outlets. In those markets, Townsquare’s radio stations are paired with digital news and entertainment sites that extend on-air brands online, with local personalities and staff contributing written content tied to community interests.
Of course, while AM/FM remains a “traditional cash cow,” Townsquare’s core revenue driver is found elsewhere on the farm.
Townsquare Interactive, the company’s digital marketing solutions unit, is positioned as a primary revenue driver in the back half of 2026. Townsquare has previously reported that digital operations accounted for 55% of company revenue and profit in its Q3 2025 results.
Wilson told investors that revenue per salesperson reached a high point in 2025 following a reduction in sales headcount, with hiring picking back up as the company entered the new year. He said that shift is expected to support a return to revenue growth, while Townsquare Ignite, the company’s digital advertising division, is projected to deliver high single-digit compound annual growth. Core broadcast revenue, Wilson added, is expected to remain steady over the next three years.
Rosenstein addressed balance sheet priorities during the presentation, saying Townsquare is targeting net leverage in the low-to-mid three-times range over the coming months as it continues retiring debt. In its Q3 earnings, Townsquare posted total net revenue of $106.8 million for the quarter ended September 30, down 7.4% year over year.
Townsquare is scheduled to report its fourth-quarter and full-year 2025 earnings on March 16, with the company most recently projecting full-year net revenue of $426 million to $430 million.
With reporting by Adam R. Jacobson
