Reports Q1 revenue $99.6M, consensus $98.64M. “I am pleased to share that Townsquare’s Q1 results met our previously issued guidance, and that we are building momentum and gaining market share, primarily due to our local focus and our unique and differentiated digital platform. First quarter net revenue decreased -3.4% year-over-year and Adjusted EBITDA decreased -9.9% year-over-year, both in-line with our expectations. Our Q1 performance improved over the fourth quarter across each of our segments. Importantly, our Digital Advertising segment returned to revenue growth in the first quarter (+1.3% year-over-year), and our Townsquare Interactive segment achieved net subscriber growth and month-over-month revenue growth in March, a meaningful turning point for the business. In total, Digital represented 53% of Townsquare’s Q1 2024 net revenue and Adjusted Operating Income,” commented CEO Bill Wilson.
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