Townsquare Media reports its operating results for the fourth quarter of 2024 and for the full year of 2024. Company CEO Bill Wilson says, “I am pleased to share that Townsquare’s performance improved meaningfully throughout 2024, culminating with fourth quarter net revenue growth of +2.6% year-over-year (on revenue of $117.8 million), and Adjusted EBITDA growth of +25.8% year-over-year, driven by the strong sequential improvement in our two digital businesses and the benefit of political revenue. In
addition, net income (loss) improved $26.9 million year-over-year in the fourth quarter, and $32.1 million in the year, in large part due to a reduction in non-cash impairment charges… Our Broadcast Advertising net revenue declined in-line with our expectations for 2024 (mid-single digit ex-political decline) which aligns with our view that broadcast is a mature cash cow business that will continue to face headwinds going forward, as businesses will continue to share shift from traditional advertising to digital advertising. Thankfully, we are often the beneficiary in that case, as we frequently have the most comprehensive set of digital advertising solutions available in our markets. Digital is and will continue to be Townsquare’s growth engine, and we believe Townsquare’s ability to drive profitable, sustainable digital growth is a key differentiator for our company, and consistent with our strategy of being a Digital First Local Media Company.”
