Townsquare Media met Q1 guidance for net revenue and adjusted EBITDA. Digital solutions now account for 53% of total net revenue, reflecting a shift to digital-first local media. Townsquare Interactive exhibits signs of recovery with subscriber growth and revenue increases.
Despite a 3.4% net revenue decline in Q1 2024, Townsquare Media's broadcast advertising revenue has stabilized. The company expects robust political revenue in 2024 and ended the quarter with a healthy cash position, focusing on potential mergers, acquisitions, and dividend payments.
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