Townsquare Media Reports Q4 2023 Revenue Down 4.6%
Reporting its operating results for the fourth quarter of 2023 and for the full year of 2023, Townsquare Media posts Q4 net revenue of $114.8 million, down 4.6% from the same period in 2022. For the quarter it reports a net loss of $1.9 million. Net revenue for the full year of 2023 was $454.2 million, a decrease of 1.9% from the full year of 2022. Townsquare Media CEO Bill Wilson says, “I am pleased to share that Townsquare’s fourth quarter results met or exceeded our previously issued guidance, and our full year results met the guidance that we issued at the start of 2023… Our Digital Advertising segment delivered net revenue and Adjusted Operating Income growth this year (each +7% year-over-year), offsetting
weakness in the national and network marketplace, and first-time hurdles in our Subscription Digital Marketing Solutions segment. In total, Digital now represents 51% of Townsquare’s 2023 net revenue and 55% of our 2023 Adjusted Operating Income, and maintained a 30% Adjusted Operating Income margin, consistent with 2022’s margin. The strong cash generation characteristics of our assets allowed us to produce $68 million of cash flow from operations in 2023, an increase of $18 million, or +35%, as compared to the prior year. We could not be more pleased to share that given our strong cash position, we were able to repurchase and retire approximately $27 million of our Unsecured Senior Notes at a discount during the year. In addition, we repurchased $17 million of our common stock, and paid a high-yielding dividend while also investing in our business. We also ended the year with a strong cash balance of $61 million and net leverage of 4.43x, retaining financial flexibility moving forward. Despite the lack of tailwinds at our back in 2023, I am very pleased with how the Townsquare team navigated the progressively challenging economic landscape. We outperformed competitors and gained market share due to our local focus and our digital platform. I believe that our performance over the past several years has demonstrated the efficacy of our Digital First Local Media strategy and validated our focus on local markets outside of the Top 50 U.S. cities, reinvigorating my confidence in our business model and our path moving forward.”
NBCUniversal News Group’s “Dateline NBC” jumps two spots to #2, bumping audiochuck’s “Crime Junkie” to #4. NPR’s “Up First” remains in the #3 position. Other radio-related podcasts of note include Cumulus Podcast Network’s “The Dan Bongino Show” rising one spot to #6, Salem Podcast Network’s “The Charlie Kirk Show” slipping two places to #17, and Cumulus Podcast Network’s “The Mark Levin Show” falling three spots to #27. 
last night (3/11). The event was also exclusively video streamed on iHeartRadio’s YouTube channel and broadcast across iHeartMedia radio stations nationwide and on the iHeartRadio app. Winners were named in 32 categories, including Podcast of the Year, which went to “New Heights.” Entertainer Lilly Singh presented the award to co-hosts Jason Kelce and Travis Kelce, who accepted the honor via video. 
WHO morning show. Today, Simon Conway – the station’s PM drive host – was part of the on-air team. Amy Sweet posted the following message to Facebook, “Our sincere appreciation goes out to every listener who has tuned in to WHO over the years, making it possible for us to build upon the rich tradition of excellent programming that sets us apart from other stations. We have truly enjoyed connecting with each one of you through various initiatives designed to foster deeper connections within our beloved community. As we move forward into unknown territories, we are filled with anticipation and hope for what lies ahead!”
Think about the concept for just a minute. Manhattan Island for $24? Peter Minuit knew value.
comment as part of his Q4 2023 earnings call yesterday (3/7). The company is already operating ClarksvilleNow.com in the Clarksville, Tennessee market and had forecast to have more markets up and running by the end of this year. He says, “As of today, I’m pleased to announce that we have already generated over $1 million in prebooked revenue for 2024, and the year-end timeline has been accelerated to have not 16 but 18 markets online by the end of – not the end of the year – but by the end of quarter two.”
First” are #2 and #3, respectively, with NBC News’ “Dateline NBC” at #4. Other talk radio-related podcasts of note include The Daily Wire’s “The Ben Shapiro Show” rising two spots to #7, iHeartPodcasts’ “Stuff You Should Know” up two places to #9, and Dan Bongino’s “The Dan Bongino Show” up one spot to #11. 
best team in the industry to power our next chapter… A major area of focus is expanding our relationships with top podcasts as we look to grow both our exclusive content portfolio and support our successful advertising business. To help us achieve our goals, we decided to bring in an expert to champion SiriusXM in the marketplace. I am thrilled to welcome Sarah van Mosel back to SiriusXM in a new role as SVP of podcast strategy, reporting directly to me. In this role, Sarah will develop a targeted podcast acquisition strategy as well as source and attract up and coming new talent to the SiriusXM Podcast Network.” Greenstein says van Mosel will work with SVP of podcasting content Adam Sachs.
-2) at the Sheraton Times Square hotel in New York City. Harrison’s address titled, “The Next 10 Years of Media and Popular Culture is…?,” is scheduled to take place between 11:00 am and 12:00 noon on Saturday (3/2). Harrison states, “I have always believed that the future of broadcasting, for better or worse, brews on the campuses of America and this observation is truer now than ever before. I am very excited to bring an array of provocative and pertinent observations, predictions and possibilities, born of my perspective as a future-minded immigrant from the 20th century to such a vital and dynamic group of young communicators.” 
comprehensive collection of the top national and regional news stations to help listeners stay up to date on the latest in the race to the 2024 U.S. Presidential Election in November. The ‘Election Channel’ brings together all voices and viewpoints to empower listeners to stay informed on all party news.” TuneIn adds that its coverage includes national and global news networks and stations, including NBC News NOW, CNN, MSNBC, FOX News Radio, Newsmax and Progressive Voices, plus local stations across the country.
AM/FM, Dayton. The program aired in the 12:00 noon to 3:00 pm ET daypart and the stations are going to replace the show with “The Erick Erickson Show” based at CMG’s WSB-AM/WSBB-FM, Atlanta. The Erickson program is syndicated by Compass Media Networks. It appears that producer Hannah Guile is also exiting as a result of this move. TALKERS reached out to Mark Kaye who requested that all questions and inquiries be directed to his agent Heather Cohen at The Weiss Agency.
The AI Listener Voice Generator enables library subscribers to simulate “listener” audio and addresses the challenges that stations increasingly face in collecting listener audio from the public. Benztown CEO Andreas Sannemann says, “The Text-to-Speech and Speech-to-Speech capabilities of this new feature make an audio producer’s job easier and more efficient than ever – and it sounds incredible!”
Are you a sales curmudgeon? You know, that old-school, out-of-touch terrestrial radio ad sales rep who is too lazy to learn the new digital/social media sales world?