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Townsquare Q2 Net Revenues Up $2.6%, Earnings Flat

Townsquare Media reported second quarter net revenue increased 2.6% to $140.7 million as compared to $137.2 million in 2016. Local Marketing Solutions (radio) grew 4.3% to $90.5 million while Entertainment fell 0.5% to $50.2 million, due to revenue declines in certain live events and national digital business. Excluding political revenue, net revenues grew 2.9% to $140.1 million and Local Marketing Solutions rose 4.8%. The company posted a net income of $5.6 million, down 0.7% from $5.6 million in the year-ago period.

"We are pleased to report another solid quarter that was in line with our expectations," commented Chairman/CEO Steven Price. "In the second quarter, net revenue increased 2.6%, and net income and Adjusted EBITDA were approximately flat. Our second quarter performance was anchored by our Local Marketing Solutions segment, where revenue increased 4.3% over the prior year, and 4.8% excluding political revenue. Our results in this segment are representative of the continued strength of our local advertiser solutions and the strength our local teams."

Changes & Moves
Chuck Powell
Chuck Powell
KJR-AM (Sports Radio 950)/Seattle will debut of the new "Chuck and Buck" in mornings and Jason Puckett in middays, effective March 26. Chuck and Buck will air weekdays from 6-10am More

Quick Snaps
Westwood One: Laura Okmin co-hosted Westwood One's Today in PyeongChang, a nightly two-hour live broadcast that airs each day and providing coverage of the XXIII Olympic Winter Games. Pictured is Okmin with alpine skier Lindsey Vonn, who won a bronze medal in the downhill.