The following is a summary of the Townsquare Media, Inc. (TSQ) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Townsquare reported Q1 net revenue of $99.6 million, down by 3.4% year-over-year.

• Adjusted EBITDA dropped 9.9% year-over-year to $17.5 million.

• Broadcast advertising revenue dipped by 1%, while digital advertising revenue saw a 1.3% year-on-year increase.

• Despite an earlier return to revenue growth, Townsquare Interactive experienced a 15.3% fall in net revenue and a 9.7% decrease in profit year-over-year.

Business Progress:

• The company maintains a competitive gain due to its local focus and differentiated digital platform.

• A significant shift was noted with nearly 53% of total net revenue generated from digital solutions.

• Townsquare Interactive indicated recovery and growth, with first-time net subscribers in 17 months and month-over-month revenue growth.

• The company plans to continue investing in digital growth, foreseeing a strong prospective growth for digital advertising and specifically for Townsquare Interactive.

• The substantial cash flow has facilitated financial flexibility for Townsquare, enabling debt reduction and share repurchases.

• Future plans include maintaining a competitive edge outside the top 50 markets, refining its digital product technology, and pursuing M&A opportunities post refinancing.

• The company highlighted strong performance in its digital platform and opportunities for growth due to technological advancements.

More details: Townsquare Media IR

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