Townsquare Media reported second-quarter net revenue of $115.4 million, essentially flat with a year ago, while posting a net loss of $41.8 million compared with net income of $2.0 million in the prior-year period.
The loss stemmed mainly from a $25.1 million rise in non-cash impairment charges linked to the declining value of the company’s FCC licenses, plus a higher income tax provision.
Digital operations continued to expand their share of the business:
- Townsquare Ignite digital advertising net revenue rose 11% year-over-year to $47.2 million, and digital overall accounted for 57% of net revenue in the first half of 2026.
- For the six months, digital businesses also generated 59% of Segment Profit.
- Subscription Digital Marketing Solutions (Townsquare Interactive) delivered record Segment Profit margins of nearly 38%, even as net revenue fell 8.5% because of reduced sales headcount.
- Broadcast Advertising net revenue declined 5.5%, or 7.2% excluding political advertising.
- Media Partnerships, the division that white-labels Townsquare’s programmatic advertising infrastructure for other local media operators, kept growing rapidly.
The unit, which did not exist two years ago, now partners with 16 media companies across 41 markets the company does not own, bringing Townsquare’s total digital programmatic footprint to 115 markets when combined with its 74 owned markets.
Revenue from the segment is expected to more than double in 2026.
For the third quarter, Townsquare forecasts net revenue of $108 million to $110 million. Full-year guidance was narrowed to $425 million to $431 million in net revenue, remaining within the original range.
“We believe the combination of multiple scalable, high-margin digital growth platforms and a durable Broadcast cash flow business creates a differentiated company with significant long-term opportunities to drive shareholder value,” said CEO Bill Wilson.