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Townsquare Media Reports Positive Q4 Earnings Boost


Townsquare Media
Townsquare Media

In a detailed update accompanying its annual shareholder letter, Townsquare Media Inc. revealed a mixed financial performance for the year ended December 31, 2024, with notable gains in the fourth quarter offsetting some of the annual declines. The company navigated a challenging economic environment with strategic adjustments, particularly in its digital segments.

For the fourth quarter of 2024, Townsquare Media reported a $3 million increase in net revenue, totaling $117.8 million, up 2.6% from the same period in 2023. This growth was driven largely by a 15.5% increase in Digital Advertising net revenue and a 1.9% increase in Subscription Digital Marketing Solutions net revenue. However, Broadcast Advertising net revenue experienced a decline of 4.1%. Excluding political revenue, overall net revenue saw a decrease of 2.2%.

Net income for the quarter stood at an impressive $25 million, a significant turnaround from a net loss of $1.9 million in the prior year's comparable period. This improvement was attributed primarily to a decrease in non-cash impairment charges and reductions in direct operating expenses.

Adjusted EBITDA for the quarter rose by 25.8% to $31.2 million, compared to $24.8 million in the fourth quarter of 2023. The increase highlights effective cost management and a strong rebound in advertising revenue as the year closed.

Over the entire year, Townsquare's net revenue dipped slightly by 0.7% to $451.0 million. The year was tough for Subscription Digital Marketing Solutions and Broadcast Advertising, which saw declines of 8.4% and 1.3% respectively. However, these were partially offset by a 5.5% increase in Digital Advertising net revenue, showcasing the company's growing strength in digital platforms.

The company reported a net loss of $10.9 million for 2024, an improvement over a $43 million loss in 2023. The reduction in net loss is largely due to a decrease in non-cash impairment charges and controlled operational costs despite the revenue decline.

Adjusted EBITDA for the year showed a modest increase of 0.4%, amounting to $100.4 million. However, when excluding political revenue, Adjusted EBITDA saw an 8.8% decrease, reflecting underlying pressures outside of election-related advertising booms.

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