Home Login RADIO ONLINE RSS Facebook
Advertisement

Townsquare Q1 Net Revs Down 5% to $88.7M, Loss Narrows


Townsquare Media
Townsquare Media

Townsquare Media reported first quarter net revenue decreased 5% to $88.7 million from $93.4 million in 2020. Excluding political revenue, net revenues declined 4.1%. Adjusted EBITDA grew 29.7% to $20.1 million from $15.5 million. The company posted a net loss of $6.1 million (-35 cents per diluted share), a decrease of $53.5 million from a net loss of $59.5 million (-$3.27) in the year-ago period.

"We are extremely proud to report that Townsquare's first quarter 2021 results approached, and in some cases exceeded, levels achieved in the pre-COVID first quarter of 2019, which surpassed our expectations and previously stated guidance," commented Townsquare Media CEO Bill Wilson. "In the first quarter of 2021, net revenue declined -5% year over year, and -1.6% excluding political and Live Events net revenue. When excluding Live Events net revenue, first quarter net revenue increased +0.3% as compared to the first quarter of 2019. Total digital revenue growth accelerated to +13% year over year (+32% vs. Q1 2019), contributing nearly 49% of Townsquare's total first quarter net revenue.

"Our digital revenue growth was fueled by Townsquare Interactive (TSI), our digital marketing solutions subscription business, Townsquare Ignite, our digital programming advertising platform, and Townsquare Amped, digital advertising on our owned and operated brands, which increased revenue year over year by +15%, +12%, and +11%, respectively. Impressively, TSI, Ignite, and Amped's first quarter net revenue exceeded Q1 2019 revenue levels by +34%, +45%, and +15%, respectively.

"Over the next three years, we expect to grow our digital net revenue from $167 million (on a trailing twelve-month basis as of March 31, 2021) to $250 million. The strong growth of our digital revenue, together with our strong expense management, led to Adjusted EBITDA increasing nearly +30% over the prior year. I am especially proud to share that first quarter Adjusted EBITDA of $20.1 million is +$1.3 million, or +7%, higher than Q1 2019's pro forma Adjusted EBITDA, and +$2.1 million, or +12%, higher when excluding profit from Live Events."

Advertisement

Latest Radio Stories

Red Apple Media Appoints Bert Goldman as CTO
Bert Goldman
Bert Goldman
Red Apple Media names veteran broadcast engineer Bert Goldman as its new Chief Technology Officer. He brings more than 50 years of radio engineering experience to the role, with a deep background in station construction, facility upgrades, signal optimization, and regulatory compliance. Goldman has More

Chris Fillar Joins WWJ Newsradio 950 as Morning Co-Anchor
Chris Fillar
Chris Fillar
Audacy names Chris Fillar as the new morning co-anchor on WWJ-AM (WWJ Newsradio 950) in Detroit. Fillar steps into the role alongside Jackie Paige, with the duo now leading weekday broadcasts from 5-10am ET. Fillar, who has delivered sports updates on WWJ and sister WXYT-FM (97.1 The Ticket) since 2018, More

Anna & Raven Show Expands to Montgomery and Columbia
Anna & Raven Show
Anna & Raven Show
Syndicated Anna & Raven Show continues its rapid growth, adding two major Southern markets to its expanding list of affiliates. Beginning this week, the morning program will now be heard on WMXS (Mix 103.3) in Montgomery, AL and WARQ (Live 93.5) in Columbia, SC. The show is now carried in more than 75 More
Advertisement

PodcastOne Announces Return of Chrisley Confessions 2.0
PodcastOne
PodcastOne
PodcastOne has announced the relaunch of Chrisley Confessions, the podcast hosted by reality TV personalities Todd and Julie Chrisley. The revamped series, entitled Chrisley Confessions 2.0, premieres July 16, and will be available in both audio and video formats through PodcastOne. More

Latino USA Podcast Joins iHeartMedia's My Cultura Network
Latino USA
Latino USA
Futuro Media and iHeartMedia announced today that Latino USA, the longest-running Latino-focused news and culture program in the U.S., joins iHeartMedia's My Cultura Podcast Network. Hosted by Pulitzer Prize-winning journalist Maria Hinojosa, Latino USA will now be distributed as a podcast via iHeartRadio More

Hubbard Radio Seattle Appoints Nick Beyer VP/MM
Nick Beyer
Nick Beyer
Hubbard Radio has appointed Nick Beyer as Vice President and Market Manager of its cluster in Seattle, marking a homecoming for the longtime broadcaster whose career began over two decades ago at the same group of stations. Beyer now leads operations for a portfolio that includes KQMV-FM (MOViN 92.5), More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement