{"id":521812,"date":"2021-08-03T06:04:03","date_gmt":"2021-08-03T10:04:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/townsquare-reports-an-all-time-record-adjusted-ebitda-and-strong-net-revenue-growth\/"},"modified":"2021-08-03T06:04:03","modified_gmt":"2021-08-03T10:04:03","slug":"townsquare-reports-an-all-time-record-adjusted-ebitda-and-strong-net-revenue-growth","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/townsquare-reports-an-all-time-record-adjusted-ebitda-and-strong-net-revenue-growth\/","title":{"rendered":"Townsquare Reports An All-Time Record Adjusted EBITDA And Strong Net Revenue Growth"},"content":{"rendered":"
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Adjusted EBITDA Exceeds 2019 Levels for the Third Consecutive Quarter<\/h2>\n

Delivers Record High Townsquare Interactive Net Subscriber Adds (+1,350 in Q2)<\/h2>\n

Digital Revenue 47% of Total Net Revenue in 1H 2021<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n PURCHASE, N.Y.<\/span>, Aug. 3, 2021<\/span> \/PRNewswire\/ —\u00a0Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare”, the “Company,” “we,” “us,” or “our”) announced today financial results for the second quarter ended June\u00a030, 2021.<\/p>\n

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\n \"Townsquare
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“Townsquare’s strong performance continued in the second quarter of 2021, with significant growth in net revenue, Adjusted EBITDA, net subscribers and net income. In the second quarter of 2021, net revenue increased +45% year over year, but more importantly, Townsquare achieved 99.4% of Q2 2019’s net revenue when excluding Live Events net revenue (in Q2 2019 there was $6.3 million<\/span> of Live Events net revenue). Total digital revenue growth accelerated to +36% year over year (+27% vs. Q2 2019), contributing approximately 47% of Townsquare’s total net revenue in the first six months of 2021. Over the next three years, we expect double-digit digital net revenue growth to continue, fueling the growth of our digital platform from $180 million<\/span> of revenue (on a trailing twelve-month basis as of June 30, 2021<\/span>) to $250 million<\/span>,” commented Bill Wilson<\/span>, Chief Executive Officer of Townsquare Media, Inc. “Most impressively, I am extremely proud to report that Townsquare’s second quarter Adjusted EBITDA of $30<\/span>.3\u00a0million not only exceeded our expectations, our previously stated guidance, and 2019 levels (+1% vs. Q2 2019), but it was also the highest Adjusted EBITDA generated in any single quarter in Townsquare’s history. To accomplish this strong result only one year after the start of the pandemic is a testament to the strength of the Townsquare Team, our digital platform and solutions for local businesses, and our careful expense management efforts.”<\/p>\n

Mr. Wilson continued, “As a Digital First Company, our digital revenue and profit growth has accelerated, driving the diversification of our business, total Company growth and separation from our local competition. I am incredibly optimistic about Townsquare’s future, and very proud that we are on the path to achieving 2019’s Adjusted EBITDA in 2021, on the verge of a full revenue recovery in 2021, and plan on delivering strong revenue and profit growth in 2022.”<\/p>\n

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\n Second Quarter Highlights*<\/u>
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