Townsquare Media Q3 Net Revenue Falls 7.4%
Townsquare Media’s third quarter 2024 financial results are in and the company reports net revenue of $106.8 million, a decline of 7.4% compared to the same period a year ago. The company reports a net loss of $5.5 million for the period after posting net income of $11.3 million a year ago. Townsquare Media CEO Bill Wilson states, “In the first nine months of 2025,
Townsquare’s total Digital net revenue increased +2.1% year-over-year, representing 55% of the Company’s total net revenue, and Digital Segment Profit increased +3.6% year-over-year, operating at a 26% profit margin, and representing 55% of our total Segment Profit. In particular, I’d like to highlight the strong performance of our Direct Digital Advertising revenue streams 
(including the direct sales of our owned and operated digital properties and our programmatic offering), which increased +7% year-over-year in the third quarter, partially offsetting the significant short-term headwinds we are currently facing due to the deterioration in online audience trends; and the strong profit performance of Townsquare Interactive, which delivered Segment Profit growth of +21% year-over-year in the third quarter (+$1.1 million) and +19% year-over-year in the September year-to-date period (+$3.0 million). Despite numerous headwinds that we have encountered, we are proud that the execution of our Digital First Local Media strategy has allowed us to deliver excellent results for our clients, while also producing strong cash flow from operations due to the thoughtful and deliberate management of our expense base.”
distributed by Audacy to unite the biggest sports voices, markets, and fans.” Audacy Detroit SVP and market manager Debbie Kenyon says, “The launch of ‘97.1 Detroit Sports Radio Network’ represents a massive commitment to our listeners and an exciting chapter in our growth. We are excited to partner with Townsquare Media and other media companies to expand our footprint across all of Michigan and to deliver great content to the dedicated fan base we serve. We are proud to deliver best-in-class sports coverage to the entire state, solidifying our position as the essential source for Michigan sports audio content now and for years to come.” The network’s first affiliates include Townsquare Media’s WFGR in Grand Rapids, WJIM in Lansing, WBCK in Battle Creek, and WKMI in Kalamazoo, plus Blarney Stone Broadcasting’s WGRY in Roscommon. Additional affiliates will be announced in the upcoming months.
licensed to Walton, New York – previously aired a country format and a news/talk format, respectively. Bold Gold Media Group president Vince Benedetto says, “We have a deep love and connection to the Catskill Mountains and Delaware County, and we are very much looking forward to bringing our programming to the wonderful community of Walton. For a long time, we have had the privilege serving the neighboring town of Hancock, and very much look forward to extending our local programming to include even more of the residents of Delaware County.”
election. About returning, Spadea says, “I’m excited to be returning to the airwaves with ‘New Jersey 101.5’ and the largest audience in the state. I’m looking forward to continuing our mission of fighting for common-sense solutions to save New Jersey. Our show has always been about the listeners, and I’m ready to keep amplifying the voices of small business owners, parents, teachers, first responders, nurses, and everyone else committed to digging in and staying in New Jersey. Stay tuned – there’s more to come!” Townsquare Media regional VP Brian Lang says, “Bill’s audience and the team at ‘New Jersey 101.5’ are looking forward to his return. There’s no doubt he’ll have great stories to share. I also want to thank Eric Scott and the entire morning show team for doing an outstanding job while Bill was away.”
reporting a net loss of $48.8 million in the same quarter a year ago. Townsquare reports revenue in segments and the broadcast advertising segment saw net revenue of $48.7 million, a decrease of 9.2% from the same quarter in 2024. The company’s digital advertising segment’s net revenue was $42.5 million, an increase of 2.4% over Q2 of 2024.
Myers/Naples; Jacksonville; Pittsburgh; Indiana, PA; Greensburg, PA; and Punxsutawney, PA) that do not overlap with Townsquare’s market footprint. Townsquare Ignite president Todd Lawley states, “We’re excited to partner with Renda Media to bring our market-leading digital advertising solutions to their expansive client base. Our success stems from a deep expertise in leveraging our proprietary in-house programmatic platform and data-driven strategies to deliver measurable value. Through this partnership, we look forward to equipping Renda Media with the tools, insights, and proven strategic approach needed to strengthen their digital capabilities and accelerate client growth.” 
co-host of the midday show alongside longtime station personality Judi Franco. Johnson – who served as the station’s program director from 1999 through 2017 – 
takes over for Dennis Malloy who retired from the program last week. Johnson says, “Coming back to ‘New Jersey 101.5’ feels like coming home. This station has always had a one-of-a-kind connection to the people of New Jersey. I’m honored to be part of it again — and even more excited to team up with Judi Franco, who’s as sharp, fearless, and funny as they come.” Townsquare Media regional VP Brian Lang says, “Eric is the perfect choice to join Judi on middays. He’s got a longstanding relationship with her, understands the power of the ‘New Jersey 101.5’ brand, and brings instant chemistry to the mic. We couldn’t be more excited — I can’t wait to hear ‘The Judi & EJ Show’ in action.”
Amarillo markets. Those markets include news/talk KFYO and talk KKAM/K280GU in Lubbock and news/talk KIXZ, Amarillo. Most recently, he served as president of iHeartMedia’s Nashville station group.
“Two of my children live out of state and it’s difficult to sneak in quick visits. But now it won’t be. I’ll get to spend longer periods with my kids and grandkids, and just hopefully take and enjoy what life has to offer. There is no drama and no intrigue. Judi and I are still very good friends, almost like brother and sister. We’re both grateful that they threw us together back in 1997. The chemistry was instant, and the laughter has never stopped. Yeah, there have been some tumultuous times thrown in there as well, but it was all good. So, so, so good. I was lucky enough to be a part of radio’s history in New Jersey. Don’t get me wrong: Our ratings are still very high, and for that, I am extremely grateful. But I will still be a part of the radio station, filling in when the need arises. I’ll possibly be doing some appearances and definitely some writing for NJ1015.com.” 
over for Jeff Evans, who was recently promoted to vice president of radio for HMG. Pickett previously served as director of content for Townsquare Media in Boise and as regional vice president at iHeartMedia, “further strengthening his background in multi-market and multi-format programming, talent development, and creating engaging on-air content. His broad experience and passion for mission-driven media make him uniquely equipped to lead WayFM into its next season of growth and innovation.”
and Subscription Digital Marketing Solutions net revenue increased 4.2%. Townsquare CEO Bill Wilson says, “I am pleased to share that Townsquare’s first quarter results met or exceeded our previously issued guidance, driven by 
the continued strength of our differentiated digital platform. Additionally, this morning we are reaffirming our 2025 full-year guidance for both net revenue and Adjusted EBITDA. In the first quarter, net revenue decreased – 0.5% year-over-year excluding political, and -1.0% in total, meeting our guidance, and Adjusted EBITDA increased +6.2% year-over-year excluding political, and +3.5% in total, exceeding our guidance. In addition, net income declined $3.1 million year-over-year. 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 principally focused on markets outside the Top 50 in the U.S.”
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.”
provides Townsquare with a five-year, $470 million senior secured term loan facility and a five-year, $20 million senior secured revolving credit facility. Townsquare used $453 million of net proceeds from the Senior Secured Credit Facility plus cash on hand to redeem the outstanding 6.875% senior secured notes due 2026. Both the term loan and the credit revolver mature on February 19 of 2030.
the fourth quarter of 2024 and the full year ending December 31, 2024 on Thursday, February 27. The company will conduct a conference call at 4:30 pm ET, following the release of its earnings announcement, to discuss its financial results and business outlook.
Townsquare Media, Inc also announces that it will release fourth quarter 2024 financial results before the market opens on Monday, March 17. The company will host a conference call to discuss certain fourth quarter 2024 financial results on that day at 8:00 am ET.
Spadea – morning drive host at WKXW-FM, Trenton “New Jersey 101.5” – and his employer Townsquare Media created an illegal “shadow campaign.” The complaint says Townsquare used radio, social media and public events to promote Spadea’s campaign thereby providing him with “hundreds of thousands of dollars” worth of advertising. Ciattarelli is asking the Commission to deny Spadea’s campaign access to matching public funds and to fine Townsquare for the campaign violations. Spadea’s campaign says the complaint is baseless and that it has complied with election law throughout his campaign. 
advertising and marketing solutions to their expansive customer base, which importantly exists in markets that do not compete with ours. Our expertise is coaching and training high-performing broadcast sales teams to leverage our proprietary programmatic advertising platform and data-driven insights to deliver exceptional results for their clients. By sharing our proven strategies and dynamic approach, we look forward to helping Steel City strengthen their digital capabilities, driving growth and measurable success for their clients.” Steel City Media vice president Michael Frischling comments, “We are excited to partner with Townsquare Ignite in both of our markets. Townsquare has the best digital solutions in the radio industry and a proven track record of delivering great results to clients.”
revenue will be between $117 million and $119 million. Company CEO Bill Wilson adds, “As anticipated, our digital divisions had a very strong fourth quarter, as Townsquare Interactive returned to year-over-year revenue growth, and Digital Advertising net revenue accelerated to year-over-year growth rates in excess of +15%, helped by national digital advertising returning to revenue growth together with ongoing strength in our digital programmatic business. In total, we expect fourth quarter Digital revenue to increase approximately +11% year-over-year, and represent 52% of Townsquare’s net revenue in 2024, a true point of differentiation from others in local media, as we have evolved from a local broadcast radio company that was founded in 2010, to a Digital First Local Media Company with a world class team and a unique and differentiated strategy, assets, platforms and solutions.”
and our unique and differentiated digital platform… In the second quarter, the Company reported a net loss of $48.9 million, in large part due to non-cash impairment charges. Our Q2 performance was driven by stabilizing and/or improving trends across segments: Townsquare Interactive returned to sequential revenue growth in each month of the quarter, as a result of positive subscriber trends that have improved dramatically compared to previous quarters; Digital Advertising net revenue growth continued at +1% year-over-year; and Broadcast Advertising net revenue was approximately flat as compared to the prior year, an improvement from first quarter declines. In total, Digital represented 52% of Townsquare’s net revenue in the first six months of the year. Additionally, we continue to generate strong cash flow, granting us the ability to invest in our digital growth engine while preserving financial flexibility, as evidenced by our ongoing debt and share buybacks in the open market… Most importantly, due to our current cash position and our strong cash generation, we retain financial flexibility moving forward and we are confident in our ability to build shareholder value for our investors through long-term net revenue and cash flow growth, net leverage reduction, future dividend payments, and potential future share repurchases.”
Jersey for $133,000. The former sports talk outlet has been dark since late last year due to what at the time was reported as being the result of problems with its nighttime antennae. This deal leaves Townsquare with three signals in the Trenton market: news/talk WKXW-FM “New Jersey 101.5”; CHR WPST-FM, and religion WCHR-AM.
held a hearing to consider whether Spadea’s being on the air after declaring his candidacy constitutes an in-kind contribution to his campaign that violates the states campaign finance laws. While the ELEC ruled Spadea can remain on the air, it required that steps be taken to avoid violating the laws. The ELEC was concerned with the disclaimer that had been airing that mentioned Spadea’s name four times. The new disclaimer is as follows: “Townsquare Media, and New Jersey 101.5 do not support, endorse, advocate, encourage, fund, or appeal for the election or defeat of any candidates for public office. Townsquare Media, its affiliates, executives, officers, and employees, including New Jersey 101.5 did not request, suggest, invite or encourage any of its employees to seek public office. Townsquare Media and New Jersey 101.5 have implemented parameters, restrictions and guidelines on the content of this broadcast to eliminate the broadcast of any content endorsing, supporting, encouraging, advocating, promoting, or appealing for the nomination, election or defeat of any candidates for public office.” 
the commission will be “monitoring” his program. Spadea declared his candidacy a couple of weeks ago and filed the Form -D1 but has not filed his nominating petition since the primary race is not until next June. At that time, he will be a legally qualified candidate and will leave the air. On Friday, the commission was hearing arguments whether his being on the air is an in-kind contribution from employer Townsquare Media and violates the state law that prohibits single-source contributions of more than $5,800. Lawyers for fellow Republican primary candidates Jack Ciattarelli and Jon Bramnick argued that Spadea’s program is all about his thoughts on public policy, thereby giving him a thing of value. But Townsquare’s attorney stated Spadea doesn’t use his show to “express advocacy” and that it has “no value” to his candidacy.