Townsquare Media’s Q1 2024 Revenue Declines 3.4%
First quarter 2024 net revenue for Townsquare Media was $99.6 million, down 3.4% from the same period in 2023. The company posted net income of $1.55 million in Q1, compared to the net loss of $1.94 million it reported in the first quarter of 2023. Townsquare’s Subscription Digital Marketing Solutions net revenue was $18.2 million, down 15.3% from a year ago. Digital Advertising net revenue
was $34.1 million, up 1.3% over Q1 of 2023. Broadcast Advertising net revenue was $45.5 million, down just 1% from a year ago. Townsquare CEO Bill Wilson comments, “I am pleased to share that Townsquare’s first quarter results met our previously issued guidance, and that we are building momentum and gaining market share, primarily due to our local focus and our unique and differentiated digital platform… Our first 
quarter performance improved over the fourth quarter across each of our segments. Importantly, our Digital Advertising segment returned to revenue growth in the first quarter (+1.3% year-over-year), and our Townsquare Interactive segment achieved net subscriber growth and month-over-month revenue growth in March, a meaningful turning point for the business. In total, Digital represented 53% of Townsquare’s first quarter 2024 net revenue and Adjusted Operating Income. The strong cash generation characteristics of our assets provided us the ability to execute two attractive equity transactions in April using cash on hand: the accretive share repurchase of 1.5 million shares from MSG at an 11% discount to the pre-announcement share price, and an option buyout at an attractive price point, thereby avoiding shareholder dilution. In addition, during the quarter we repurchased $4 million of our common stock and paid a high-yielding dividend while also investing in our business. We ended the quarter with a strong cash balance of $57 million, and following the April equity transactions, maintained a cash balance of $28 million at the end of April, retaining financial flexibility moving forward.”
first quarter compared to the net income of $920,000 it reported in Q1 of 2023. Saga adds that its balance sheet reflects $28.8 million in cash and short-term investments as of March 31, 2024 and $23.7 million as of May 6, 2024. The company expects to spend approximately $5.0 – $5.5 million for capital expenditures during 2024.
When a new restaurant opens, smart owners put the phone on busy so would-be diners believe the joint is hot, packed and hard to get in to. At street fairs we are drawn to merchant booths with long lines. Crowds give us confidence.
program will be simulcast on Cumulus Media’s New London, Connecticut news/talk outlet WXLM-AM, beginning Monday (5/13). Valicenti has been hosting the morning show on WPRO since 2010. He is also the evening anchor on Sinclair’s WJAR-TV, Providence where he’s been working since 1992.
mornings and late nights at the heritage station. Prior to that he served for 15 years as the local host of the evening magazine program on Seattle’s KING5 NBC. During his career on KIRO, Curley has spearheaded a number of extremely creative and high-profile charitable promotions in addition to operating an independent business as a fund-raising auctioneer for charitable causes and organizations across the nation. He raises an average of $80 million per year with this endeavor. In making the announcement, TALKERS founder Michael Harrison stated, “John Curley is a true on- and off-air original… iconoclastic, candid, and smart. His charity work as a radio personality over the years has been creative, entertaining, and effective. However, it is his remarkable skill and productivity as an auctioneer for non-profits around America that is absolutely stunning. When John gets on that stage, he raises auctioneering to a heart pounding art form and drags every ounce of generosity out of his spellbound audiences. His patter is song and his moves are dance.” 
as well as conservative talk KTTH-AM morning drive host Bryan Suits. The report indicates that evening host Jake Skorheim moves to PM drive to co-host the 3:00 pm to 7:00 pm “John & Jake” show with John Curley. The evening daypart will be filled by CBS Audio’s “John Batchelor Show.” Taking over the KTTH-AM morning drive daypart from Suits is the syndicated “Armstrong & Getty” show. 
to about 7% of its workforce. Reports of who has been let go are just trickling in but so far some of the people who’ve been let go include (
lawmen, exploring law versus crime and hero versus villain, ultimately revealing the rugged path that led to the rise of modern law enforcement. FOX Nation president Lauren Petterson says, “Viewers will feel as if they’ve teleported back to the Wild West as Sean Hannity masterfully bridges the past and the present, highlighting this fascinating era of time.” Hannity will use the true stories of the outlaws and lawmen of America’s past to track the evolution of law enforcement from the Wild West to today. From Butch Cassidy to Bass Reeves to Billy the Kid, Hannity details the men of both honor and infamy, bringing life to the myths, legends, and truths of the time. Hannity comments, “As our viewers know, I am a strong supporter of our men and women in law enforcement and I look forward to spotlighting a period of time that is pivotal in their origin.”
showroom on Thursday (5/9) from 6:00 pm to 8:00 pm. Talk show host Alan Stock and afternoon host Sam Mirejovsky will moderate the event that will be free to the public. KXNT brand manager Mark Bonilla states, “As the premier talk radio station in Las Vegas, ‘News Talk Radio 840 AM’ is dedicated to providing a platform for informed discussion and debate by offering voters the opportunity to hear directly from the leading candidates about their visions for the future of the city.”
Audio advantage.” The guide provides data to counter prevailing myths that marketers often believe. Some examples include: 1) the notion that “apps have all the audience” is not true as “ad-supported platforms are key to marketer’s winning and Audacy’s 200 million+ is miles above Spotify (48.6M) and Pandora (41.2M)”; 2) “young people don’t listen to audio” isn’t true as 96% of Gen Z listen to audio daily – with 44% being daily radio users; and 3) “I can’t measure audio” is also false because marketers can “track, measure and analyze 
Ratings – and advertisers’ results – reward what listeners remember, what sticks-out, not clichés that blend-in. So, avoid blah-blah-blah such as…
region that carry Carr’s independently syndicated afternoon drive talk show. He is an inductee in the Radio Hall of Fame. With roots in investigative print journalism, Carr is the New York Times best-selling author of The Brothers Bulger and Hitman, in addition to several other Boston organized-crime books and two novels. He has remained in newspaper work that goes back prior to his radio career as an active columnist for the Boston Herald and has received a National Magazine Award for his work with Boston Magazine. Boston organized-crime boss Whitey Bulger was so infuriated by Carr’s groundbreaking reporting that he once put out a murder contract on Carr – a story detailed on “60 Minutes.” At his 2013 trial on murder and racketeering charges, Bulger tried to have Carr banned from the courtroom by calling him as a defense witness. Before he was brutally murdered in a gangland hit, the crime czar still said his greatest regret was not murdering Carr when he had the chance. Carr once taught a course at Harvard, where he had to cross a picket line against himself to get to his class. In making the announcement, TALKERS founder Michael Harrison stated, “Howie Carr is the real deal – the best of both the old and new schools in media. He was practicing ‘cross-platform’ journalism and commentary long before it became the digital-era norm. He’s got ink in his veins and RF in his brains. His impact in the Northeast has been so strong for such a long time that if the six New England States were to consolidate as one, he would possibly be its first governor.” Carr will be one of 60 industry leaders speaking at TALKERS 2024: Radio and Beyond. For more information, see story below.
trip to the semifinals in the NCAA Tournament. GKB founder and CEO Craig Karmazin comments, “We are proud to introduce broader coverage of Badgers Volleyball and to create additional avenues for audience expansion. It is an exciting time, and our partnership with UW Athletics will present opportunities for a team that is proven to be best in class both on and off the court.” GKB market manager Greg Scalzo adds, “We are excited to build off of the already established UW Women’s Volleyball brand and enthusiasm surrounding women’s sports to deliver the ultimate listening experience for fans.”
after being diagnosed with kidney cancer, worked in the radio industry for 40 years – almost 20 of those years as morning host for WJBC. WJBC states, “Laughlin was a longtime supporter of the Salvation Army, volunteering each year to ring bells and help raise money for the Bloomington non-profit. That included the ‘Cubs vs. Cards’ challenge with his good friend Gary Morefield – and the ‘Scott vs. Scott’ challenge alongside WJBC’s Scott Miller. Last year, the Salvation Army created the ‘Scott Laughlin Spirit Award’ to honor its top fundraisers through the annual red kettle campaign.” Laughlin is survived by his wife Lori.
resources, and encourage people to prioritize their mental well-being. “I’m Listening,” Audacy’s flagship program created on the belief that the power of talk saves lives, is continuously committed to delivering more mental health conversations, resources, and pathways to help over 200 million listeners. The company says, “We are trusted companions and loyal friends to our listeners. We know the power of talk saves lives. We meet people where they are and assure them it’s okay to not be okay. Each year, Audacy activates ‘I’m Listening’ through national campaigns featuring artists, celebrities, and athletes who share their experiences with mental health. Partnering with the American Foundation for Suicide Prevention (AFSP), these events help raise awareness and support of issues that we all face in our daily lives. This year’s broadcast will air on Wednesday, September 25 from 7:00 pm to 9:00 pm.” 
the radio industry and listeners. Voting for inductees begins May 20 and runs through June 3. The top six vote recipients from the more than 900 industry members receiving ballots will gain induction as part of the 2024 Radio Hall of Fame Induction class. The two additional inductees that will make up the eight-person induction class will be selected by the Radio Hall of Fame nominating committee. Spoken-word format personalities nominated include: John & Ken, Larry Elder, Lee Harris, Lincoln Ware, and Phil Hendrie. 
To be an expert in marketing requires expertise in how memory works. Early in my consultant practice, I studied and read every book I could find on the processes of memory. The best book is Effective Frequency: The Relationship Between Frequency and Advertising Effectiveness. Put simply, how many times does a consumer have to hear a message before it has impact? The book, a collection of studies, is the foundation for every qualitative study in the field today.
York market president Chris Oliviero says, “Boomer has become a true cornerstone in the long, storied history of WFAN. He was already the highest-rated morning show in the FAN record books, and now, with this new extension, he will add longest-running to his accolades. And most excitedly, we are certain the best is still yet to come as Boomer begins this new chapter in his career by making a longterm commitment to the FAN, along with a creative vision for elevating the brand together to new heights.” Esiason comments, “For the last 17 years, it has been an honor to be the voice that New York sports fans wake up to. I could not be more excited to continue delivering four hours of entertaining conversation at the most vibrant and storied sports radio station in the country, working alongside the morning crew. I would like to thank Audacy, Chris Oliviero, and, most importantly, our passionate listeners for the opportunity to continue on this incredible ride.”
APPLAUSE for Daniel Centofanti, a good egg, known to several generations of Southern New Englanders as “Giovanni,” mornings on WPRO-FM, Providence… until today, the 50th anniversary of the station’s format flip from Beautiful Music to CHR.
stations… the legendary WHO in Des Moines, Iowa. Des Moines is a wonderful place in which to live with terrific amenities. You will work with strong local management invested in your success. WHO is a ratings and revenue leader that is looking for opportunities to grow and win. You could be the next chapter in the second century of WHO serving Iowa! 
Mike Kadlik is one former Audacy staffer who took to social media to announce that he’s now a free agent. He posted to X, “My time with @WEEI has come to an end due to company-wide reductions. Very tough to swallow right before the NFL Draft, but I’m looking forward to continuing covering the #Patriots in some way.” Though the total number of people being let go is not known, it’s expected that more former employees will use social media to let the industry know they are available. 
workers’ first contract. The union says iHeartMedia has “violated Section 8(a)(1) of the National Labor Relations Act ‘by restricting protected Section 7 speech, by engaging in intimidating conduct and by interrogating employees about their support for the union.’” 
The union’s complaint adds, “When we have posted flyers about the union, management has removed these materials within the day, often within minutes… union members have received emails discouraging this activity, pointing out company policies about distributing literature in working areas, without acknowledging our federally protected right to discuss our working conditions or to distribute information about our union to our colleagues. Non-bargaining-unit employees and managers have used common work areas to openly disparage our union literature and efforts to inform unit members.” iHeartMedia has not responded publicly to the grievance. 