{"id":826142,"date":"2025-03-17T06:03:37","date_gmt":"2025-03-17T10:03:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/townsquare-delivers-net-revenue-and-adjusted-ebitda-growth-in-q4-2024-announces-increase-in-dividend\/"},"modified":"2025-03-17T06:03:37","modified_gmt":"2025-03-17T10:03:37","slug":"townsquare-delivers-net-revenue-and-adjusted-ebitda-growth-in-q4-2024-announces-increase-in-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/townsquare-delivers-net-revenue-and-adjusted-ebitda-growth-in-q4-2024-announces-increase-in-dividend\/","title":{"rendered":"Townsquare Delivers Net Revenue and Adjusted EBITDA Growth in Q4 2024 Announces Increase in Dividend"},"content":{"rendered":"
\n

\n Total Digital Net Revenue Growth of +<\/strong>
\n 10.8%<\/strong>
\n in Q4 2024\u00a0
<\/strong>
\n Townsquare Ignite (Digital Advertising) Net Revenue Growth of +<\/strong>
\n 15.5%<\/strong>
\n in Q4 2024\u00a0
<\/strong>
\n Repurchased <\/strong>
\n $36<\/strong>
\n Million of Debt and <\/strong>
\n $24<\/strong>
\n Million of Equity in 2024\u00a0
<\/strong>
\n Completed Debt Refinancing, Extending Maturities to 2030<\/strong>\n <\/p>\n

PURCHASE, N.Y., March 17, 2025 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (\u201cTownsquare,\u201d the “Company,” “we,” “us,” or “our”) announced today its financial results for the fourth quarter and year ended December\u00a031, 2024.<\/p>\n

\u201cI am pleased to share that Townsquare\u2019s performance improved meaningfully throughout 2024, culminating with fourth quarter net revenue growth of +2.6% year-over-year, and Adjusted EBITDA growth of +25.8% year-over-year, driven by the strong sequential improvement in our two digital businesses and the benefit of political revenue. In addition, net income (loss) improved $26.9 million year-over-year in the fourth quarter, and $32.1 million in the year, in large part due to a reduction in non-cash impairment charges. Consistent with our performance all year, fourth quarter net revenue and Adjusted EBITDA met our guidance, and our full year results met the guidance that we issued at the start of 2024,\u201d commented Bill Wilson, Chief Executive Officer of Townsquare Media, Inc. \u201cOur Broadcast Advertising net revenue declined in-line with our expectations for 2024 (mid-single digit ex-political decline) which aligns with our view that broadcast is a mature cash cow business that will continue to face headwinds going forward, as businesses will continue to share shift from traditional advertising to digital advertising. Thankfully, we are often the beneficiary in that case, as we frequently have the most comprehensive set of digital advertising solutions available in our markets. Digital is and will continue to be Townsquare\u2019s growth engine, and we believe Townsquare\u2019s ability to drive profitable, sustainable digital growth is a key differentiator for our Company, and consistent with our strategy of being a Digital First Local Media Company. Our digital segments ended the year on a very strong note, as fourth quarter Digital Advertising net revenue increased +15.5% year-over-year, and Townsquare Interactive net revenue returned to year-over-year revenue growth of +1.9%. In total, Townsquare\u2019s Digital net revenue increased +10.8% year-over-year in Q4, and represented 52% of Townsquare\u2019s total net revenue and our Digital Segment Profit represented 50% of Townsquare’s total Segment Profit in 2024.”<\/p>\n

Mr. Wilson continued, \u201cThe strong cash generation characteristics of our assets allowed us to produce $49 million of cash flow from operations in 2024. We could not be more pleased to share that given our strong cash position, we were able to repurchase and retire approximately $36 million of our Senior Secured Notes during the year. In addition, we repurchased $24 million of our common stock, and paid a high-yielding dividend while also investing in our business, particularly our digital growth engine. We also ended the year with a strong cash balance of $33 million and net leverage of 4.33x, which is an improvement from prior year levels. In addition, we successfully completed the refinancing of our debt, entering into a new $490 million credit agreement, including a $470 million Term Loan B and a $20 million revolving credit facility, both due in 2030. As we did in 2024, we are confident in the Townsquare Team\u2019s ability to continue to deliver attractive, current returns to our shareholders in the form of a high-yielding dividend, while also focusing on the financial health of the Company by reducing our net debt levels through strong cash generation and debt reduction.\u201d<\/p>\n

The Company announced today that its Board of Directors approved a quarterly cash dividend of $0.20 per share. The dividend will be payable on May 1, 2025 to shareholders of record as of the close of business on April 17, 2025. As of the last closing price that reflects a dividend yield of approximately 10%.<\/p>\n

\u201cThe Board\u2019s decision to once again increase the dividend reflects their ongoing confidence in our free cash flow generation and our differentiated Digital First business strategy. Our quarterly cash dividend of $0.20 per share, or $0.80 per share on an annual basis, reflects a +1.3% increase from the prior dividend, which we had previously raised by +5%,\u201d concluded Mr. Wilson.<\/p>\n

\n
\n Segment Reporting<\/u>
\n <\/strong>
\n
We have three reportable operating segments, Digital Advertising, Subscription Digital Marketing Solutions, and Broadcast Advertising. The Digital Advertising segment, marketed externally as Townsquare Ignite, includes digital advertising on our digital programmatic advertising platform and our owned and operated digital properties, and our first party data digital management platform. The Subscription Digital Marketing Solutions segment includes our subscription digital marketing solutions business, Townsquare Interactive. The Broadcast Advertising segment includes our local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, and other miscellaneous revenue that is associated with our broadcast advertising platform. The remainder of our business is reported in the Other category, which includes our live events business.<\/p>\n

\n
\n Fourth Quarter Results*<\/u>
\n <\/strong>\n <\/p>\n