Townsquare Media has announced its third-quarter financial results, and the company reported a decline during the period.
During the third quarter, the company saw a 7.4% year-over-year decline in revenue. If political advertising is excluded, the drop rests at 4.5%, or $106.8 million.
Broadcast revenue was the main driver of the revenue downturn. That sector saw a drop of 13.8%, while digital properties under the Townsquare Ignite umbrella saw a 1.5% decline during the period. The company’s subscription digital marketing program saw a 2.3% dip in revenue.
In total, Townsquare Media reported a loss of $5.5 million during the quarter, down from $11.3 million in income it secured in the same period in 2024.
Digital revenue accounted for 55% of the company’s total net revenue during the first three quarters of 2025.
“Despite numerous headwinds that we have encountered, we are proud that the execution of our Digital First Local Media strategy has allowed us to deliver excellent results for our clients, while also producing strong cash flow from operations due to the thoughtful and deliberate management of our expense base,” said CEO Bill Wilson. “Since our successful February refinancing, we have applied our cash flow towards organic investment in our digital growth engine and debt repayment, while also maintaining our high yielding dividend.
“Since the refinancing, we have reduced our outstanding debt by $17 million, including $6 million of Term Loans which we repurchased at a discount in the third quarter,” Wilson continued. “Looking forward, we remain confident in our ability to build shareholder value for our investors through long term net revenue, Adjusted EBITDA and cash flow growth, net leverage reduction, and future dividend payments.”
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