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Townsquare Media Tops First Quarter EBITDA Forecasts


Townsquare Media
Townsquare Media

Townsquare Media reported first quarter 2025 financial results that met or exceeded expectations, driven by strength in its digital operations. Despite a slight year-over-year dip in total revenue, the company posted increased profitability and reaffirmed its full-year guidance.

Townsquare's net revenue for the quarter slipped 1.0% year-over-year to $98.7 million, or 0.5% when excluding political advertising. However, Adjusted EBITDA rose 3.5% to $18.1 million-or 6.2% when excluding political revenue-exceeding company forecasts.

CEO Bill Wilson highlighted the performance of Townsquare's digital operations as a key growth driver. "Digital is and will continue to be Townsquare's growth engine," said Wilson. "Our digital net revenue grew 6.4% year-over-year, and digital now represents 57% of our total net revenue and 62% of our segment profit."

By segment, Digital Advertising revenue rose 7.6% to $36.8 million, while Subscription Digital Marketing Solutions (Townsquare Interactive) increased 4.2% to $19.0 million. Combined, digital segments generated a 16.2% increase in profit. In contrast, Broadcast Advertising revenue declined 9.1% to $41.3 million.

Townsquare posted a net loss of $1.5 million for the quarter, compared to net income of $1.6 million a year earlier. The company attributed the decline to one-time factors including a $1.5 million loss on debt redemption and a non-repeating $4.0 million gain in Q1 2024.

Looking ahead, the company reaffirmed its full-year 2025 outlook, projecting net revenue between $435 million and $455 million, and Adjusted EBITDA between $90 million and $98 million. For Q2 2025, Townsquare expects revenue between $114 million and $116 million and Adjusted EBITDA between $25 million and $26 million.

Townsquare also announced a quarterly cash dividend of $0.20 per share, payable August 1, 2025, to shareholders of record as of July 18. Based on the last closing price, this reflects a yield of approximately 12%.

In February, the company completed a major refinancing, issuing a five-year, $490 million credit agreement and redeeming its outstanding $467 million in 2026 Senior Secured Notes. Wilson noted the move provides a "long operating runway" and positions the company to reduce net leverage over time.

"We began as a traditional broadcast company and are now a Digital First Local Media Company," Wilson said. "In a rapidly changing landscape for consumers and local businesses, it has never been more important to embrace transformation and evolution."

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