Tuesday, June 10, 2025
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Highlights from Noble’s Emerging Growth Virtual Conference. This report highlights Townsquare Media’s participation in Noble’s Virtual Equity conference June 4 & 5th. Bill Wilson, CEO, Stuart Rosenstein, CFO, and Claire Yanicay, Executive VP IR, provided insights on the company’s Digital strategy and favorable revenue and growth outlook. In addition, management highlighted its goal to reduce debt leverage. A rebroadcast is available here.
Digital to approach 70% of total company revenues. Currently, Digital accounts for roughly 55% of total company revenues and 55% of cash flow. Management indicated that Digital should continue to grow at favorable growth rates, with expected small declines in its legacy broadcast business. As such, management stated that total Digital revenues should approach 70% of total company revenue and cash flow contributions in the long term.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.