Townsquare Media, Inc. (NYSE: TSQ)

Townsquare Media, Inc. is a community focused digital and broadcast media and digital marketing solutions company principally focused outside the top 50 markets in the United States. It operates a portfolio of over 400 local news and entertainment websites, 380 mobile applications, and 340 radio stations across 74 markets. The company combines its owned digital properties with a proprietary programmatic advertising platform and a subscription based SaaS offering to deliver advertising and marketing services to local businesses and consumers. Its strategy centers on being a digital first organization while leveraging its strong local radio footprint to drive growth.

Townsquare Media, Inc. generates revenue primarily through three streams: digital advertising sales on its programmatic platform and owned websites, subscription fees for its digital marketing services suite provided to small and medium sized businesses, and broadcast advertising sales on its terrestrial radio stations. Additionally, the company earns revenue from live events, including ticket sales, sponsorships, concessions, and merchandise. In 2025 digital advertising contributed $161.2 million, subscription digital marketing solutions contributed $74.8 million, and broadcast advertising contributed $183.4 million to net revenue. The company's customers include local, regional, and national advertisers seeking targeted marketing solutions, small and medium sized businesses looking to enhance their online presence, radio audiences, and attendees of community events.

The company operates through the following segments: Digital Advertising, Subscription Digital Marketing Solutions, and Broadcast Advertising. A fourth category labeled Other captures revenue from live events and is not considered a core operating segment.

• Digital Advertising: This segment provides programmatic advertising solutions via a proprietary platform that combines first and third party data for precise audience targeting across desktop, mobile, connected TV, email, paid search, and social channels, and includes creative services, media buying, and a white label media partnership offering that allows third parties to resell the technology under their own brand.

• Subscription Digital Marketing Solutions: This segment offers a SaaS based business management platform to small and medium sized businesses, providing website design and hosting, search engine optimization, online directory optimization, electronic commerce, reputation monitoring, social media management, appointment scheduling, payment processing, CRM, email marketing, and SMS services on a monthly subscription basis. The platform supports unlimited website edits, features an advanced lead capture system, and delivers responsive designs that work on any screen size.

• Broadcast Advertising: This segment sells local, regional, and national advertising airtime on the company's 340 radio stations operating outside the top 50 U. S. markets, and also includes miscellaneous revenue tied to the broadcast platform. The stations offer diverse formats such as country, news talk sports, and rock, and aim to deliver strong local content that builds listener loyalty and attracts advertisers seeking cost effective reach.

Townsquare Media, Inc. positions itself as a differentiated local media competitor by emphasizing original local content across its digital and radio properties, which it claims attracts larger and more loyal audiences than many rivals. The company competes with traditional radio broadcasters, satellite radio providers, cable and broadcast television stations, print publications, digital media operators, streaming music and video services, and podcast creators. Its competitive advantages include a diversified product portfolio that combines digital advertising, subscription services, and radio, a proprietary technology stack for data driven targeting, and a strong local sales force with long standing relationships in markets outside the top 50 where fewer well capitalized competitors operate.

Townsquare Media, Inc. serves a diverse customer base that includes local and regional advertisers from industries such as automotive, banking, healthcare, food and beverage, and retail; small and medium sized businesses that subscribe to its digital marketing tools; radio listeners who consume its news, music, and talk programming; and participants in its live events such as concerts and festivals. The company focuses its sales and marketing efforts on communities outside the top 50 U. S. markets where it believes it can provide superior local content and advertising solutions.