“2017 has started off well, with first quarter net revenue of $88.4 million, net loss of $3.0 million and Adjusted EBITDA of $10.1 million, in line with our expectations,” commented Steven Price, Chairman and Chief Executive Officer of Townsquare.
“Our Local Marketing Solutions segment, which increased 1.2% over the prior year period, and 2.5% excluding the impact of political revenue, continues to show consistent, organic growth demonstrating the strength of our local products and services. Our local digital offerings have been especially strong, and we believe we will see continued strength as we begin to utilize our first party data capabilities in combination with our digital platform.”
First Quarter Highlights
• As compared to the first quarter of 2016:
• Net revenue decreased 6.4%, consistent with previously issued guidance
• Local Marketing Solutions net revenue increased 1.2%
• Entertainment net revenue decreased 35.8%
• Net loss increased 117.5%
• Adjusted EBITDA decreased 16.0%,
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