These are challenging times for many audio-focused media companies. But, there’s something a little unique about the just-released Q1 2020 earnings results from “local first”-focused Townsquare Media.
Yes, net revenue growth has been seen in nine consecutive corners, but Townsquare barely did so in Q1. One would likely rush to ask how the all-important net income and EBITDA fared. Then, they’d also ask about the digital and Townsquare Interactive segments. The response? The non-radio segments had an outstanding quarter.
Alas, that couldn’t cloud the biggest takeaway that accompanied the first quarter results: Townsquare went from a 7 1/2-cent quarterly dividend to none, with no visibility on when one will return.