Townsquare Q3 Revenue Falls 7%, Digital Rises
| RADIO ONLINE | Monday, November 10, 2025 | 11:30am CT |
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 Townsquare Media |
Townsquare Media reported third quarter 2025 results showing total net revenue down 7.4% year-over-year to $106.8 million, reflecting declines in both digital and broadcast advertising. Excluding political advertising, net revenue fell 4.5%. The company posted a net loss of $5.5 million, compared to net income of $11.3 million in the same quarter last year, while Adjusted EBITDA dropped 13.5% to $22 million, or down 2% excluding political revenue.
CEO Bill Wilson said results met prior guidance despite a "challenging macroeconomic environment," crediting expense control for improving EBITDA margins excluding political revenue. "Our Digital First Local Media strategy continues to deliver strong client results and operational cash flow," Wilson said. He noted that digital operations represented 55% of total net revenue and segment profit year-to-date, with Digital Segment Profit up 3.6% from 2024. Townsquare Interactive's subscription marketing division delivered a 21% profit gain in the quarter, offsetting softness in digital advertising revenue.
During the quarter, total digital revenue declined 1.8% to $58.9 million, as growth in direct digital ad sales was offset by lower overall online audience trends. Broadcast advertising revenue fell 13.8% to $47 million, while Townsquare Interactive revenue slipped 2.3% to $18.6 million. The company repaid $8.7 million in term loans, including $5.8 million repurchased at a discount, part of $17 million in total debt reduction since its February 2025 refinancing.
For the first nine months of 2025, net revenue was $320.9 million, down 3.7% year-over-year, while digital revenue increased 2.1%. Adjusted EBITDA fell 3.8% to $66.6 million. Townsquare reported a year-to-date net loss of $5.0 million, improving from a $36.0 million loss in the same period of 2024.
Looking ahead, Townsquare expects fourth quarter revenue between $105 million and $109 million and Adjusted EBITDA of $21.5 million to $23.5 million. Full-year 2025 guidance calls for net revenue between $426 million and $430 million and Adjusted EBITDA between $88 million and $90 million.
The Board of Directors declared a quarterly dividend of $0.20 per share, payable February 2, 2026, to shareholders of record on January 26, 2026, representing a yield of approximately 13%.
