Townsquare Sees Digital Ad Momentum Accelerate In Second Quarter.

Townsquare Media reported second-quarter revenue that was nearly unchanged from a year ago as strong digital advertising growth offset continued declines in broadcast advertising, reinforcing the company's “Digital First Local Media Strategy.”

Net revenue totaled $115.4 million, down 0.1% from a year earlier, while adjusted EBITDA slipped 6.2% to $24.8 million. The company reported a net loss of $41.8 million vs. net income of $2 million in the second quarter of 2025, largely due to $25.1 million in additional non-cash impairment charges related to FCC licenses. Adjusted net income edged up to $3.7 million.

CEO Bill Wilson said the results met the company’s guidance while highlighting continued momentum across its digital operations.

“Our Digital Advertising business, Townsquare Ignite, grew revenue 11% year-over-year, accelerating meaningfully from 7% year-over-year growth in the first quarter,” Wilson said in a release. He added that the company’s Media Partnerships business now reaches 115 markets through a combination of Townsquare-owned stations and third-party media partners, with partnership revenue expected to more than double this year. “Digital Advertising delivered another quarter of accelerating growth, our Media Partnerships business continued to scale rapidly, Townsquare Interactive achieved record profitability, and our Broadcast business generated meaningful cash flow while outperforming the industry.

Digital Advertising revenue increased 11% during the quarter, while total digital revenue climbed 5%. Townsquare Interactive, the company's subscription digital marketing business, reported an 8.5% revenue decline, although it posted record segment profit margins of nearly 38%. Overall, digital businesses accounted for 57% of Townsquare’s revenue and 59% of segment profit during the first six months of 2026.

Broadcast Advertising revenue fell 5.5% year over year, or 7.2% excluding political advertising, reflecting weaker advertiser spending. Excluding political revenue, companywide revenue declined 0.8% to $114 million.

For the first six months of 2026, revenue declined 0.9% to date, while digital advertising increased 9.1% and broadcast advertising fell 6%. The company posted a year-to-date net loss of $38.8 million vs. net income of $500,000 during the same period a year earlier.

Looking ahead, Townsquare expects third-quarter revenue between $108 million and $110 million with adjusted EBITDA of $22.5 million to $23.5 million. It reaffirmed its full-year guidance, forecasting revenue between $425 million and $431 million and adjusted EBITDA of $87 million to $90 million.

The company’s board also declared a quarterly dividend of 20 cents per share, payable Nov. 2 to shareholders of record as of Oct. 26.