Townsquare Media Reports Q4 Revenue Decline, Digital Growth

RADIO ONLINE | Monday, March 16, 2026 | 12:19pm CT

Townsquare Media

Townsquare Media reported lower revenue for both the fourth quarter and full year 2025, reflecting declines in broadcast advertising, while its digital businesses continued to represent a growing share of the company's overall results.

For the fourth quarter ended December 31, 2025, the company posted net revenue of $106.5 million, down 9.6% from $117.8 million in the same period a year earlier. Broadcast advertising revenue fell 17.8%, while digital advertising revenue declined 1.0% and subscription digital marketing solutions revenue decreased 5.6%.

Townsquare reported a net loss of $4.8 million for the quarter, compared with net income of $25.0 million in the fourth quarter of 2024. Adjusted EBITDA totaled $21.5 million, down 30.9% year-over-year.

For the full year, net revenue totaled $427.4 million, a 5.2% decrease from $451.0 million in 2024. Broadcast advertising revenue declined 12.6%, while digital advertising increased 1.6% and other revenue rose 11.8%.

The company reported a full-year net loss of $9.8 million, an improvement from a $10.9 million loss in 2024. Adjusted EBITDA for the year totaled $88.1 million, down 12.2% from the prior year.

Digital operations continued to account for a majority of the company's business. Townsquare said digital products represented 55% of total net revenue and 56% of total segment profit in 2025.

CEO Bill Wilson said the company's "Digital First Local Media" strategy helped Townsquare maintain market share despite industry headwinds. He also noted signs of stabilization in digital traffic early in 2026.

During 2025, the company generated $30.6 million in operating cash flow, repaid $22.6 million in debt following its February refinancing, and paid $13.2 million in dividends. The board approved a quarterly dividend of $0.20 per share, payable May 4, 2026, to shareholders of record April 27.

Looking ahead, Townsquare expects first-quarter 2026 net revenue between $96 million and $98 million, with adjusted EBITDA projected between $16 million and $17 million. For the full year 2026, the company forecasts net revenue of $420 million to $440 million and adjusted EBITDA of $87 million to $93 million.