Townsquare Media Q4 2022 Net Revenue Up 8.8%; Full Year Up 10.8%
Townsquare Media reports operating results from the fourth quarter of 2022 and for the full year. Net revenue for Q4 of 2022 was $120.3 million, an increase of 8.8% over the same period in 2021. For the full year of 2022, net revenue was $463 million, an increase of 10.8% over the full year of 2021. While net income was up over 100% in Q4 of 2022 over Q4 of 2021, net income for the full year 2022 was $14.4 million, down 23.4% over the full year 2021. While Broadcast Advertising net revenue for the full year 2022 was up 3.8% over the full year
2021, Townsquare is upbeat about its Digital segment. CEO Bill Wilson says, “I am proud to report that Townsquare’s transformation into a Digital First Local Media Company allowed us to deliver record results in 2022 despite a progressively challenging economic landscape… 2022 was a significant inflection point for our company. It marked the first year where radio no longer comprised the majority of our revenue and profit, further separating Townsquare from our local media peers, and placing a spotlight on our world-class team and our unique and differentiated strategy, assets, platforms and solutions. Our growth engine has been and will continue to be our 
digital solutions, which were the primary driver of our 2022 growth. Total digital revenue increased +16% year-over-year (and +12% in the fourth quarter) to $231 million, and total digital Adjusted Operating Income increased +12% year-over-year to $69 million, representing a 30% profit margin. We believe Townsquare’s ability to drive profitable, sustainable digital growth is a key differentiator for our company, and we reaffirm our expectation that our digital revenue will grow to at least $275 million by 2024. We are uniquely positioned as a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, with a resilient digital growth engine supported by both a recurring subscription digital marketing solutions business, with a large addressable market and limited competition, and a highly differentiated digital advertising technology platform. We believe that our business model and strategy position us to weather the current economic environment better than most… Our success has been and will continue to be the result of the Townsquare Team focusing on what we do best: creating high quality, local original content for our audiences and delivering creative and cost-effective marketing solutions for our local clients with strong return on investment.”
and familiarity people have for their local radio stations to help them sample and choose from curated podcasts. Podcast Radio broadcasts 24/7 online and via app and smart speakers. It is monetized by selling traditional on-air advertising and sponsorships, inserting commercials into its online audio stream, partnering with international content makers, and making original podcasts and bespoke audio content that resonate with audiences.” 
three segments. The Multiplatform Group (including broadcast stations, networks and sponsorships & events) reports Q4 revenue of $732 million – a 0.9% increase over Q4 2021. Broadcast revenue grew $3 million, while Networks declined $5.5 million (4.1%). Revenue from Sponsorship and Events increased by $8.1 million (12.1%). The Digital Audio Group reports revenue of $301 million in Q4 of 2022 – up 10.2% 
over Q4 of ’21. Podcast revenue increased by $16.4 million (16.9%). The Audio & Media Services Group reports Q4 2022 revenue of $94.5 million – an increase of 44.3% over the same period in 2021. iHeartMedia chairman and CEO Bob Pittman says, “We are pleased to report another quarter of solid operating results for iHeart in consumer usage, revenue, and earnings growth. The fourth quarter was our best quarter for Revenue and Adjusted EBITDA – and on a full-year basis, in 2022 we generated the highest revenue and the second highest Adjusted EBITDA and Free Cash Flow year in iHeart’s history. Even in this continuing challenging and uncertain economic environment, we continue to make strong progress in our transformation of iHeart into a true multiplatform audio company – driven by innovation, supported by data and technology, and powered by the largest sales force in audio – and we are positioning iHeart to take advantage of the coming economic recovery.” 
as a percentage of the weekly podcasting audience – is based on total audience reach from Edison Podcast Metrics, and Edison says the Q3-Q4 ranker includes increased sample size implemented last year and is based on surveys of 10,579 weekly podcast listeners age 13+. The rest of the top 10 are: 4) Wondery/Audible/Amazon Music, 5) Audioboom, 6) The New York Times, 7) NPR, 8)Audacy, 9) Acast Creator Network, and 10) Cumulus Podcast Network.
revenue performance for the markets automotive category; and unifying iHeart’s approach to markets automotive across the space. He will oversee an automotive advertising business that consults with thousands of tier 2 and tier 3 automotive clients across the iHeartMedia enterprise. iHeartMedia EVP sales and operations John Karpinski says, “There is no success without a successor, so I’m really excited for Joey to take the reins of the iHeart automotive markets division. Throughout the years, Joey has not only shown himself to be an amazing leader by driving measurable success for clients and iHeart but has also proven to be great at ‘coaching up’ his team. I’m excited for Joey to build on the success he’s had on the West Coast with our entire automotive organization.”
Sawyer is promoted to media relations and affiliate sales manager. In her new role, Sawyer adds expanded Radio Media Tour outreach to her station relations duties. And in the Superadio Boston office, Dianne Cook is named operations and distribution manager overseeing both the affiliation process and distribution. Superadio president Eric Faison states, “These appointments are well deserved. Dianne, Raphael and Kim are invaluable contributors to the success of the company and have been integral in maintaining the high standards in customer service and quality programming that are synonymous with Superadio.”
most recently served Ryan Seacrest Enterprises as SVP, sales and corporate partnerships. Wilberding says, “Mike is the consummate marketing and sales innovator with excellent relationships spanning his 30-plus years as a broadcast professional. I have worked with Mike at Viacom/CBS, Spanish Broadcasting and iHeart/Premiere, and have competed with him, as well. His creative approach to working with clients makes him an outstanding addition to Key Networks.” Iverson comments, “I’m excited to be a part of the incredible team at Key Networks and to work with a fresh-thinking, entrepreneurial company setting new standards for radio syndication with pre-eminent brands like Bloomberg Radio. It is energizing to have the opportunity to move quickly and effectively for clients in an environment that feels much like a start-up. I’m also thrilled to join forces once again with Jason Wilberding.”
Answer” and hosts the 10:00 am to 12:00 noon talk program on Cumulus Media’s KCMO-AM, Kansas City. He says, “I want to thank the Salem Podcast Network for bringing our podcast into their family of great shows. As a radio guy my entire career, I wasn’t sure how the podcast version would be received when we launched. Our advertising partners who invested in the show early as well as the smartest audience in the digital space have helped our young podcast crest four million downloads, and we’re just getting started!” Salem SVP of spoken word Phil Boyce adds, “Chris Stigall is a special host who has developed a unique relationship with a very loyal audience. We saw this when we brought him over to ‘AM 990 The Answer’ a few years ago, and we know he will have the same reaction from audiences nationwide with his podcast.”
Salem Media Group announces that the program “Mike Crispi Unafraid” officially joins the Salem Podcast Network. The daily show is hosted by television reporter, talk show host, and political operative Mike Crispi. Salem says, “During the 2020 election, he provided live coverage of political rallies and grassroots conservative events on Right Side Broadcasting. In the last year, he has hosted one of the most popular live shows on Rumble. He has worked on multiple campaigns at both the state and federal levels, including his own congressional campaign in New Jersey. Crispi comments, “It is a great honor to join forces with Salem Media. I have long admired their hosts, programming, and vision for the future of conservative media. This podcast has been a success since we started it last year, and I couldn’t think of a more genuine and authentic partner to help take it to the next level.”
The sharply satirical song “Idiots” from the forthcoming fifth album by heritage rock band Gunhill Road continues to gather an international following on the internet. Released in August 2022, the music video of the catchy song passed the 70,000 unique views mark this weekend on YouTube – making it the most-listened-to song in the 53 year old band’s colorful history since its 1973 hit single “Back When My Hair Was Short” (also a provocative social commentary). TALKERS founder Michael Harrison, who along with Steve Goldrich, Paul Reich and Brian Koonin, is a member of Gunhill Road and co-writer/lead vocalist for “Idiots,” says, “We are so grateful to talk radio for embracing this song and giving it an amazing amount of airplay – either in snippets or the entire piece – that has driven interest in the song, downloads on the internet and views of the video. Fortunately, the words and theme of ‘Idiots’ ties into talk radio’s topic menu, psyche and environment in a non-partisan, ‘equal opportunity offender’ way. I mean, who can stand the negative impact that widespread idiocy is having on our society, culture and democracy?” 
Carson’s program airs from 12:00 noon to 3:00 pm on WTSN-FM, Dover; WTPL-FM, Hillsborough; WEMJ-FM, Laconia; as well as two HD2 signals. Newsmax says the network reaches a combined population of nearly a million listeners. Newsmax Radio CEO Lee Kinberg says, “I know firsthand the power of Binnie Media’s talk stations and we look forward to working with their great team and bringing Rob Carson to one of the most politically influential audiences in the country.” Binnie Media VP of programming Michael Czarnecki comments, “In the world of talk radio, we find so much of the same programming. We are thrilled at the addition of Rob Carson as this move, along with the recent addition of ‘America at Night’, and the rest of our dynamic lineup, make for a unique form of talk radio. Offering educated discussions and different perspectives on the topics of each day.” Carson’s program is now airing in 16 rated markets. In addition to the radio show and podcast, “Rob Carson’s What in the World,” a humorous review of the week’s news, airs every weekend on Newsmax TV.
Among the honorees are Premiere Networks president Julie Talbott. Also being honored are: Marilu Galvez, general manager of WABC-TV, New York; Tina Perry, president of OWN TV Network & OTT Streaming; and Erin Underhill, president of Universal Television. Zenia Mucha, chief brand and communications officer at TikTok, will receive the inaugural Gracies Vanguard Award. Kristen Welch, chief financial and operations officer at Illustrative Mathematics, will receive the AWM Legacy Leadership Award, recognizing her longtime commitment to AWM and its mission of advancing women in media.
from iHeartMedia’s Black Information Network. WQLL market manager Andy Grimshaw says, “Sports are woven into the fabric of Baltimore, and we’re excited to bring some of the biggest voices in sports broadcasting to our listeners. From the biggest stories and games to expert analysis and the latest in sports betting, ‘FOX Sports 1370 AM’ will give Baltimore sports fans something to follow around the clock.”
9.4 million views, while TikTok delivered nearly 1.4 million. GETTR Live added 545,800 views, X generated 644,500 impressions, and YouTube and Rumble contributed nearly 250,000 additional views. The company goes on to say its core broadcast and streaming operations remained strong, reaching more than 220,000 terrestrial radio listeners while producing 240,140 internet radio and JFMN.TV streaming sessions. JFMN’s mobile apps generated another 17,535 sessions. JFMN co-founder John Fredericks adds, “This is an absolutely phenomenal milestone for our company. We built JFMN from the ground up – without the corporate media establishment, without billionaire gatekeepers, without Wall Street gangster-banksters and without compromising what we believe. More than 12.7 million in monthly reach proves that Americans are hungry for bold, independent media that respects its audience and tells the truth.”
“Throughout its 36-year history of service to the talk radio and associated talk media industries, TALKERS has maintained a strict policy of non-partisanship in its coverage of the field and its players. However, the single ideological orthodoxy practiced by TALKERS through this period has been uncompromising support of the First Amendment – the prime principle and foundation upon which all American freedoms and values are built. Over the years, we have bestowed our prestigious Freedom of Speech Award upon a wide variety of broadcasters from all ends of the political spectrum, and we have gone to bat in support of hosts, stations and networks – popular and otherwise, Democrat and Republican, liberal and conservative – when under fire from presidents and other governmental forces determined to quell that fundamental right. For the sake of our industry and our country, we stand in protest of the current White House press ban imposed against our colleagues and strongly encourage all practitioners of American talk media, regardless of political persuasion, to unify in opposition to this egregious aggression against our fundamental right to fulfill our core duty and promise to the people of our nation.”
All this month, I am outlining revenue-producing strategies and tactics, proven by advertisers’ results (which pay us all). If you missed our first two installments, here are “
iHeartRadio’s “Stuff You Should Know” in the #1 position, followed by Audioboom’s “Pod Save America” at #2 and iHeartRadio’s “My Favorite Murder” at #3. Noteworthy changes from the July ranker include “Armstrong & Getty on Demand” rising five places to #11 and Salem Media Group’s “The Charlie Kirk Show” falling six places to #19. 
carrying “America in the Morning,” the timing is intentional. That program concludes September 18. ‘America’s Morning News’ begins the following Monday. A weekend edition is also planned. Current “America in the Morning” producer Jeff McKay is joining “America’s Morning News” in the same capacity. The program is anchored by Rich Johnson. Talk Media Network founder Josh Leng states, “Stations shouldn’t have to replace a decades-long show on a few weeks’ notice, said Talk Media Network founder Josh Leng. “We are providing a smooth transition, with a strong brand for both mornings and weekend airplay.
My father recently called my attention to something hiding in plain sight. He was watching YouTube and noticed ads for StreamYard, Riverside, Sprizzy and other companies selling tools and services to people who want to produce, distribute, or promote their own media. “They are advertising on consumer venues!” he told me. That was the part that caught his attention.