Townsquare Media, Q3 2026 Earnings Call Transcript

Townsquare Media’s Q3 revenue rose 4% year over year, with Digital Advertising growth accelerating to 13%, led by programmatic advertising, up 22.5%. The company expects full-year Digital Advertising growth of about 10% and programmatic growth above 20%. Media Partnerships expanded to 18 partners, and revenue is expected to more than double in 2026; management targets $50 million in revenue and a 20% profit margin within four years. Interactive revenue fell 8.5% year over year, and the company no longer expects sequential growth by year-end, citing subdued sales activity, though it expects growth to resume in 2027.

Traditional Broadcast advertising remains under pressure: revenue excluding political declined 5.2% in Q3, and management expects a steeper decline in Q4, with no near-term catalyst for meaningful improvement. Higher rates are also increasing interest costs. To preserve liquidity, Townsquare suspended its dividend, freeing about $14 million annually. Full-year revenue guidance was raised to $430–432 million, while adjusted EBITDA guidance was narrowed to $87–89 million.