Townsquare Reports Nearly 10 Percent Revenue Drop

Townsquare Media reported Q4 2025 net revenue of $106.5 million, down 9.6% from the prior year, and swung to a net loss of $4.8 million compared to $25 million in net income in Q4 2024. The results met the company's previously issued guidance for net revenue and Adjusted EBITDA.

For the full year 2025, net revenue declined 5.2% overall (or 2.8% excluding political advertising), while Adjusted EBITDA fell 12.2% (or 3.0% excluding political). The full-year net loss narrowed by $1.2 million to $9.8 million.

Segment performance in Q4 showed mixed trends amid the company's shift to a Digital First Local Media strategy:

• Total Digital Segment Profit decreased 14.8%.
• Digital Advertising Segment Profit fell 28.0%.
• Subscription Digital Marketing Solutions Segment Profit rose 12.0%.

Bill Wilson

Broadcast Advertising net revenue dropped 17.8%.CEO Bill Wilson highlighted resilience in a challenging environment, stating: “I am pleased to share that Townsquare’s fourth quarter and year end results met our previously issued net revenue and Adjusted EBITDA guidance, reflecting our team’s hard work in the current environment. We are proud that the execution of our Digital First Local Media strategy allowed us to deliver excellent results for our clients, while also outperforming competitors and gaining market share.”

He added that strong expense management kept Adjusted EBITDA margins (excluding political) flat year-over-year despite revenue declines, underscoring progress in the digital transition where digital now drives a majority of revenue and segment profit.