Townsquare Media Reports Fourth Quarter & Full Year 2016 Results
march 13, 2017

Townsquare Media has announced  financial results for the fourth quarter and year ended December 31, 2016.

"In 2016, we delivered net revenue, net income and Adjusted EBITDA growth of 17%, 127% and 9%, respectively.  On a pro forma basis, net revenue growth of 3.0% was driven by the strong performance of our local products and offerings within our Local Marketing Solutions segment, where pro forma net revenue increased 5.1% over the prior year," commented Steven Price, Chairman and Chief Executive Officer of Townsquare. "This year we focused on strengthening our balance sheet; through EBITDA growth and debt repayment we reduced net leverage from 5.5x at the start of the year, to 4.9x at year end."

Fourth Quarter Highlights
As compared to the fourth quarter of 2015 on an actual basis:
 Net revenue increased 5.8%
 Local Marketing Solutions net revenue increased 5.1%
 Entertainment net revenue increased 8.0%
 Net income increased 34.1%
 Adjusted EBITDA increased 18.1%

Full Year Highlights
As compared to the year ended December 31, 2015 on an actual basis:
 Net revenue increased 17.1%
 Net income increased 127.3%
 Adjusted EBITDA increased 9.0%

As compared to the year ended December 31, 2015 on a pro forma basis:

 Net revenue increased 3.0%
 Local Marketing Solutions net revenue increased 5.1%
 Entertainment net revenue decreased 0.9%
 Net income increased 145.5%
 Adjusted EBITDA increased 4.1%




 
Breaking News
CBS Corporation Extends Chairman/President/CEO Les Moonves
KDMX (102.9 NOW)/Dallas Adds Kannon In Afternoon Drive
Entercom-Charlotte Signs Contract Extension with Matt & Ramona Show
May 19, 2017
Cumulus Media Oxnard/Ventura Names Matthew "Doughboy" Florence PD For KVYB
Westwood One Presents Backstage at the BBMAs
May 18, 2017
iHeartMedia St. Louis Names Maurice DeVoe PD For KMJM (100.3 The Beat)
May 17, 2017
Atlantic Records Promotes Dionnee Harper & Marsha St. Hubert To SVPs of Urban Marketing
Entercom San Diego & Portland Form Partnership With Pearl Jam's Vitalogy Foundation
Vevo Announces New Hires On Original Content Team
May 16, 2017
Universal Music Group & Tencent Music Entertainment Group Enter Stategic Agreement
B96/Chicago To Host Niall Horan, Stream Live Performance
May 15, 2017
Cumulus Reports First Quarter Results
National Radio Hall of Fame Announces 2017 Nominees
Heidi Raphael Named VP/Corporate Communications for Beasley Media Group
Beasley Media Group & jacapps To Debut Customized WRIF iPhone Stickers
May 12, 2017
eQB NOW
Cumulus Media Promotes Troy Hanson To VP/Operations For Chicago Station Group
May 11, 2017
iHeartMedia New Orleans Names Steve McNair Market President
Emmis Announces Fourth Quarter and Full-Year Earnings
98.5 KLUC/Las Vegas Promotes Jon Que To Music Director
In Brief - May 11, 2017
May 10, 2017
iHeartMedia Denver Names JoJo Turnbeaugh Regional SVP/Programming
Music News
It's a Sign of the Times: Harry Styles Debuts at #1
Drake Dominates Billboard Music Awards
Chris Cornell's Wife Issues Statement on His Death
Rocker Chris Cornell Dead at 52
The Entertainment World Remembers Chris Cornell
FMQB Photo Pass: Metallica
Katy Perry Announced as First Judge for American Idol Reboot
Katy Perry Announces New Album Witness, North American Tour
Rapper Logic Debuts Atop Billboard 200
Quick Hits: Beyonce, Kendrick Lamar, Paramore
Jay Z Inks $200 Million Deal with Live Nation
iHeartRadio Streaming Exclusive Harry Styles Station
Jay Z, Chili Peppers & Gorillaz Headlining New York's Meadows Music and Arts Festival
Quick Hits: Miley Cyrus, SIA, The National, Modest Mouse
Quick Hits: The Grammy Awards, Imagine Dragons, Calvin Harris, Harry Styles, Katy Perry, The Rolling Stones, Snoop Dogg / Linkin Park
FMQB NOW

Nicki Farag,
SVP of Promotion,
Def Jam Recordings

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!