Core Insights - Townsquare Media, Inc. reported a net revenue of $118.2 million for Q2 2024, a decrease of 2.5% year-over-year, with a net loss of $48.9 million primarily due to non-cash impairment charges [2][9][11] - Digital revenue accounted for 52% of total net revenue in the first half of 2024, with Digital Advertising showing a year-over-year growth of 1% [2][5] - The company has maintained a strong cash position of $29 million and has repurchased $14 million of debt and $22 million of equity in the first half of 2024 [2][13] Financial Performance - Q2 2024 Adjusted EBITDA decreased by 8.3% year-over-year to $26.2 million, while total digital net revenue decreased by 3.8% [5][10] - Subscription Digital Marketing Solutions revenue fell by 12.9% year-over-year, while Digital Advertising revenue increased by 1% [5][37] - For the first six months of 2024, net revenue decreased by 2.9% to $217.9 million, with a net loss of $47.3 million compared to a loss of $4.6 million in the same period last year [11][12] Segment Reporting - The company operates three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising [4] - In Q2 2024, Subscription Digital Marketing Solutions revenue was $18.5 million, down 12.9% year-over-year, while Broadcast Advertising revenue was approximately flat, decreasing by only 0.2% [5][37] - Digital Advertising revenue for Q2 2024 was $41.5 million, reflecting a 1% increase from the previous year [5][37] Shareholder Returns - The Board of Directors approved a quarterly cash dividend of $0.1975 per share, reflecting a yield of approximately 7% based on the recent closing price [3] - The company has repurchased 2.2 million shares of common stock at an average price of $10.25 during the first half of 2024 [6][11] Guidance - For Q3 2024, net revenue is expected to be between $114 million and $116 million, with Adjusted EBITDA projected between $25 million and $27 million [7] - Full-year 2024 net revenue is anticipated to be between $440 million and $455 million, with Adjusted EBITDA expected between $100 million and $105 million [7]

Core Insights - Townsquare Media, Inc. reported a net revenue of $118.2 million for Q2 2024, a decrease of 2.5% year-over-year, with a net loss of $48.9 million primarily due to non-cash impairment charges [2][9][10] - Digital revenue accounted for 52% of total net revenue in the first half of 2024, with Digital Advertising showing a year-over-year growth of 1% [2][5] - The company has maintained a strong cash position of $29 million and has repurchased $14 million of debt and $22 million of equity in the first half of 2024 [2][3][13] Financial Performance - Q2 2024 Adjusted EBITDA decreased by 8.3% year-over-year to $26.2 million, while total digital net revenue decreased by 3.8% [5][10][12] - For the first six months of 2024, net revenue decreased by 2.9% to $217.9 million, with Subscription Digital Marketing Solutions revenue down 14.2% [10][11] - The company reported a net loss of $47.3 million for the first half of 2024, compared to a net loss of $4.6 million in the same period last year [11][12] Segment Performance - Subscription Digital Marketing Solutions revenue decreased by 12.9% in Q2 2024, while Digital Advertising revenue increased by 1% [5][37] - Broadcast Advertising revenue was approximately flat, decreasing by only 0.2% year-over-year [5][37] - Total Digital Adjusted Operating Income decreased by 19.4% in Q2 2024, with Subscription Digital Marketing Solutions Adjusted Operating Income down 10.1% [5][10] Capital Management - The Board of Directors approved a quarterly cash dividend of $0.1975 per share, reflecting a yield of approximately 7% based on recent closing prices [3] - The company has repurchased 2.2 million shares of common stock at an average price of $10.25 in the first half of 2024 [6][10] - S&P Global upgraded the rating of Townsquare's Senior Secured Notes from B to B+ in June 2024, citing improved performance and credit metrics [2][10] Guidance - For Q3 2024, net revenue is expected to be between $114 million and $116 million, with Adjusted EBITDA projected between $25 million and $27 million [7] - Full-year 2024 net revenue is anticipated to be between $440 million and $455 million, with Adjusted EBITDA expected between $100 million and $105 million [7]

Core Insights - Townsquare Media, Inc. will release its second quarter 2024 financial results on August 7, 2024, before market opening [2] - A conference call to discuss these results is scheduled for the same day at 8:00 a.m. Eastern Time [2] Company Overview - Townsquare Media is a community-focused digital media and marketing solutions company, primarily operating outside the top 50 U.S. markets [3] - The company owns a subscription digital marketing services business, Townsquare Interactive, which serves approximately 23,300 small and medium-sized businesses (SMBs) [3] - Townsquare Ignite is the company's digital advertising division, featuring over 400 local news and entertainment websites and mobile apps, along with a proprietary digital programmatic advertising technology stack [3] - The company operates a portfolio of 349 local terrestrial radio stations across 74 U.S. markets, including notable local media brands and national music brands [3]

Core Points - Townsquare Media, Inc. will release its second quarter 2024 financial results on August 7, 2024, before market opens [1] - A conference call to discuss the financial results will take place on the same day at 8:00 a.m. Eastern Time [1] - The conference call will be accessible via a dial-in number and a live webcast on the company's investor relations page [2] Company Overview - Townsquare Media is a community-focused digital media and marketing solutions company with a strong presence in local radio stations outside the top 50 U.S. markets [4] - The company operates a subscription digital marketing services business, Townsquare Interactive, serving approximately 23,300 small and medium-sized businesses (SMBs) [4] - Townsquare Ignite, the company's digital advertising division, combines over 400 local news and entertainment websites with a proprietary digital programmatic advertising technology stack [4] - The company owns a portfolio of 349 local terrestrial radio stations across 74 U.S. markets, focusing on local media brands and national music brands [4]

Company Overview - Townsquare Media, Inc. is a community-focused digital media and digital marketing solutions company with a strong presence in local radio stations, primarily outside the top 50 markets in the U.S. [4] - The company operates a subscription digital marketing services business, Townsquare Interactive, serving approximately 23,300 small and medium-sized businesses (SMBs) with services such as website design, search engine optimization, and online reputation management [4]. - Townsquare Ignite, the company's digital advertising division, combines over 400 local news and entertainment websites and mobile apps with a proprietary digital programmatic advertising technology stack [4]. - Townsquare Media owns a portfolio of 349 local terrestrial radio stations across 74 U.S. markets, featuring both local media brands and national music brands [4]. Upcoming Event - Townsquare Media will participate in Noble Capital Markets' Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference on June 26, 2024, at 11:00 AM Eastern Time [1]. - The event will include a fireside style Q&A session, allowing live virtual audience participation [1]. - Registered, qualified investors can schedule one-on-one meetings with key executives, including the CEO, CFO, and Executive Vice President of Investor Relations [1]. Event Accessibility - Attendees can register for the live presentation at no cost [2]. - A video webcast of the presentation will be available on Townsquare's investor relations page and on Channelchek for 90 days following the event [3]. About Noble Capital Markets - Noble Capital Markets is a research-driven investment bank that has supported small and micro-cap companies since 1984, providing institutional-quality equity research and investment banking services [5]. - The firm launched Channelchek, an investor community dedicated to public small and micro-cap companies, offering free access to institutional-quality research [5].

Company Overview - Townsquare Media, Inc. is a community-focused digital media and digital marketing solutions company with a strong presence in local radio stations, primarily outside the top 50 markets in the U.S. [4] - The company operates a subscription digital marketing services business, Townsquare Interactive, serving approximately 23,300 small and medium-sized businesses (SMBs) with services such as website design, search engine optimization, and online reputation management [4]. - Townsquare Ignite is the company's digital advertising division, which includes over 400 local news and entertainment websites and mobile apps, as well as a proprietary digital programmatic advertising technology stack [4]. Upcoming Event - Townsquare Media will participate in Noble Capital Markets' Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference on June 26, 2024, at 11:00 AM Eastern Time [2]. - The event will feature a fireside style Q&A session and scheduled one-on-one meetings with key executives, including the CEO, CFO, and Executive Vice President of Investor Relations [2]. Investor Relations - A video webcast of the presentation will be available on Townsquare's investor relations page and on Channelchek for 90 days following the event [3]. - Interested attendees can register for the event at no cost [5]. Noble Capital Markets - Noble Capital Markets is a research-driven investment bank that has supported small and micro-cap companies since 1984, providing institutional-quality equity research and investment banking services [7]. - The company launched Channelchek in 2018, an investor community dedicated to public small and micro-cap companies, offering free access to institutional-quality research [7].

Financial Data and Key Metrics Changes - In Q1 2024, net revenue declined 3.4% year-over-year to $99.6 million, within guidance range [17] - Adjusted EBITDA for Q1 2024 decreased 9.9% year-over-year to $17.5 million, also within guidance range [17] - Net income improved from a loss of $1.9 million in Q1 2023 to a profit of $1.6 million in Q1 2024, equating to $0.06 per diluted share [30] Business Line Data and Key Metrics Changes - Broadcast advertising net revenue decreased just 1% in Q1 2024, showing sequential improvement from Q4 [17][21] - Townsquare Interactive's net revenue declined 15% year-over-year but showed less than 5% decline quarter-over-quarter, returning to month-over-month revenue growth in March [12][18] - Digital advertising net revenue increased 1.3% year-over-year in Q1 2024, driven by programmatic advertising growth [19] Market Data and Key Metrics Changes - Political revenue in Q1 2024 was $1.1 million, 20% below Q1 2020 levels, but full-year expectations remain optimistic at $14 million to $16 million [14][17] - National digital advertising revenue declined 29% year-over-year in Q1 2024, with expectations of over 30% decline in Q2 [11][19] Company Strategy and Development Direction - The company is transitioning to a digital-first local media model, with 53% of total net revenue coming from digital solutions [8] - Continued investment in digital growth is emphasized, particularly in programmatic advertising, which is expected to be a major growth driver [10][11] - The company aims to leverage its strong cash flow to support shareholder value through dividends and share repurchases while maintaining a focus on deleveraging [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth in Townsquare Interactive, with expectations for quarter-over-quarter revenue growth in Q2 2024 [27][37] - The tone of the advertising market is improving, with expectations for national advertising to stabilize and potentially improve in the coming quarters [44] - The company remains focused on maintaining its competitive advantage in markets outside the top 50 U.S. cities, emphasizing local content and digital capabilities [15][67] Other Important Information - The company repurchased approximately $4 million worth of shares in Q1 2024 and has a strong cash position of $57 million at the end of the quarter [23][31] - The board approved a quarterly dividend of $0.195 per share, reflecting a 5% increase from the previous quarter [32] Q&A Session Summary Question: What is the trajectory of subscriber growth in Townsquare Interactive? - Management noted that subscriber growth is occurring across multiple locations, with significant improvements in customer service and a new business management platform contributing to this growth [27][28] Question: When can the business expect to see quarterly revenue growth? - Management anticipates potential quarter-over-quarter revenue growth in Q2 2024, with year-over-year growth expected in Q1 2025 due to previous subscriber losses [37][41] Question: How is the broadcast business performing in the current environment? - The broadcast business is viewed as a cash cow, with management proud of the market share gains despite a slow decline in overall revenue [39][44] Question: What are the capital allocation priorities moving forward? - The company will continue to focus on deleveraging, supporting dividends, and opportunistically buying back stock while investing in local businesses [45][48]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ______ Commission file number 001-36558 Townsquare Media, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

IMMEDIATE RELEASE TOWNSQUARE ANNOUNCES FIRST QUARTER RESULTS THAT DEMONSTRATE IMPROVEMENT ACROSS ALL BUSINESS SEGMENTS; TOWNSQUARE INTERACTIVE RETURNS TO SUBSCRIBER GROWTH AND MONTH-OVER-MONTH REVENUE GROWTH IN MARCH AND APRIL Digital Represents 53% of First Quarter Total Net Revenue and Adjusted Operating Income Purchase, NY – May 9, 2024 - Townsquare Media, Inc. (NYSE: TSQ) ("Townsquare", the "Company," "we," "us," or "our") announced today its financial results for the first quarter ended March 31, 2024. ...

Townsquare Media, Inc. (NYSE:TSQ) Q4 2023 Earnings Conference Call March 15, 2024 8:00 AM ET Company Participants Claire Yenicay - Executive Vice President, Investor Relations and Corporate Communications Bill Wilson - Chief Executive Officer Stuart Rosenstein - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Kupinski - Noble Financial Capital Markets James Goss - Barrington Research Operator Good morning and welcome to Townsquare Media's Fourth Quarter 2023 Confere ...