Townsquare Q2: Digital Now Powers Over Half Of Revenue And Profit.

Townsquare Media delivered second-quarter results that exceeded profit expectations and underscored the company’s ongoing digital transformation. Adjusted EBITDA rose 0.7% year-over-year to $26.4 million, above the company’s guidance, while excluding political, profit grew 3.8%. Net income swung from a $48.9 million loss a year ago to $2.0 million in Q2 2025.

Total revenue declined 2.3% year-over-year (1.6% ex-political), landing within guidance.

Digital continues to drive Townsquare’s evolution, now accounting for 55% of both total revenue and total segment profit in the first half of the year. Digital segment profit rose 9.4% year-over-year with a 27% margin. Townsquare Ignite (digital advertising) grew revenue 2.4% in Q2, while Townsquare Interactive, the company’s subscription digital marketing segment, rose 1.4%.

“With over half of our revenue and profits now generated by our digital business divisions, Townsquare has transformed into a Digital First Local Media company,” CEO Bill Wilson said in a statement.

Broadcast revenue fell 9.2% in Q2, in line with expectations shared on the prior earnings call. Townsquare says it gained share in key markets, per Miller Kaplan data. Broadcast profit margins excluding political improved year-over-year.

The company also made progress on debt reduction, retiring $10 million in Q2 and improving net leverage to 4.58x.

Townsquare reiterated its full-year guidance of $435-$440 million in revenue and $90-$94 million in adjusted EBITDA. Third-quarter guidance calls for $106.5-$108.5 million in revenue and $22-$23 million in adjusted EBITDA.

The Board declared a quarterly dividend of $0.20 per share, reflecting a dividend yield of approximately 12%.

Inside Radio will provide more details from the company’s Q2 earnings call this afternoon.