Townsquare Media released its financial results for the first quarter, with limited revenue declines compared to other radio groups announcing their financial results thus far.
The company reported a 1.0% year-over-year decline in net revenue, while net income fell by $3.1 million. However, Adjusted EBITDA improved by 3.5%, reflecting underlying operational efficiencies.
The company’s digital performance remained a key growth driver. Total digital net revenue rose 6.4%, supported by a 7.6% increase in digital advertising. Subscription-based Digital Marketing Solutions revenue grew 4.2%, contributing to a 16.2% year-over-year increase in overall digital segment profit. In contrast, broadcast advertising revenue declined 9.1% (or 8.3% excluding political advertising).
Townsquare also strengthened its capital structure by entering into a new five-year, $490 million Credit Agreement. This includes a $470 million senior secured term loan and a $20 million revolving credit facility. Proceeds were used to redeem the company’s $467.4 million in outstanding 2026 Senior Secured Notes.
“We are proud of our business model’s ability to deliver solid and consistent results, while also producing strong cash flow, even during uncertain times,” Townsquare Media CEO Bill Wilson. “Sometimes it takes a challenging macroeconomic environment to serve the purpose of highlighting how truly differentiated Townsquare is from others in local media.
“We have transformed and evolved; we began as a traditional broadcast company, and we are now a Digital First Local Media Company. Transformations don’t have to require a change of fundamental goals. In 2025, we have the same goal that we had when Townsquare was formed in 2010,” Wilson continued.
“In a rapidly changing landscape for consumers and local businesses, it has never been more important to embrace transformation and evolution. And that is exactly what the Townsquare Team is doing each and every day, and I could not be more proud and appreciative of the team.”
Looking ahead, Townsquare projects Q2 net revenue to range between $114 million and $116 million, with Adjusted EBITDA expected between $25 million and $26 million. The company reaffirmed its full-year 2025 guidance, maintaining its outlook for net revenue between $435 million and $455 million and Adjusted EBITDA between $90 million and $98 million.
Additionally, the Board of Directors approved a quarterly cash dividend of $0.20 per share, payable on August 1, 2025, to shareholders of record as of July 18, 2025. Based on the most recent closing price, the dividend represents an annualized yield of approximately 12%.
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