Townsquare Forms Strategic Alliance with SummitMedia

RADIO ONLINE | Monday, October 7, 2024

Townsquare Media and SummitMedia

Townsquare Media has announced a strategic digital advertising partnership with SummitMedia LLC. SummitMedia operates in nine U.S. cities, including Birmingham, Greenville SC, Honolulu, and Knoxville TN. Notably, none of SummitMedia's markets overlap with Townsquare's existing market presence. By leveraging its data-driven strategies, Townsquare will help SummitMedia boost its digital business while complementing its established broadcast operations.

Townsquare's Ignite division, known for its in-house digital advertising solutions, has been instrumental in driving the company's growth. Digital services now account for more than 50% of Townsquare's total revenue and profit. Through the recently established Ignite Media Partnerships division, Townsquare offers its digital expertise to other media companies, providing white-label services to help them enhance their digital offerings.

"We are thrilled to partner with SummitMedia," said Townsquare Ignite President Todd Lawley. "Our in-house digital programmatic advertising platform and data-driven insights have delivered significant value for our clients. By sharing our proven strategies, we can empower SummitMedia to enhance their digital offerings, driving growth and success for their clients."

SummitMedia, which is launching its new digital arm, Summit Interactive, expressed enthusiasm about the partnership. CEO Carl Parmer said, "Townsquare is best-in-class and fully committed to digital. We couldn't be happier about the prospects of our partnership."

This collaboration underscores both companies' commitment to expanding their digital capabilities, offering tailored advertising solutions to a wide range of businesses across their respective markets.