Reporting its operating results for the fourth quarter of 2023 and for the full year of 2023, Townsquare Media has posted Q4 net revenue of $114.8 million, down 4.6% from the same period in 2022. For the quarter it reports a net loss of $1.9 million.
Net revenue for the full year of 2023 was $454.2 million, a decrease of 1.9% from the full year of 2022. Townsquare Media CEO Bill Wilson says, “Despite the lack of tailwinds at our back in 2023, I am very pleased with how the Townsquare team navigated the progressively challenging economic landscape. We outperformed competitors and gained market share due to our local focus and our digital platform. I believe that our performance over the past several years has demonstrated the efficacy of our Digital First Local Media strategy, and validated our focus on local markets outside of the Top 50 U.S. cities, reinvigorating my confidence in our business model and our path moving forward.”
The Company announced today that its Board of Directors approved a quarterly cash dividend of $0.1975 per share. The dividend will be payable on May 1, 2024 to shareholders of record as of the close of business on April 5, 2024.
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