Townsquare Media has reported its Q1 finances for 2021, with net revenue down five percent to $88.8 million, compared to $93.4 million in the first quarter of 2020. Excluding political and live events, net revenue was down just 1.6 percent for the quarter. The company’s net loss in Q1 shrank from $59.6 million a year ago to $6.1 million in 2021.
“We are extremely proud to report that Townsquare’s first quarter 2021 results approached, and in some cases exceeded, levels achieved in the pre-COVID first quarter of 2019, which surpassed our expectations and previously stated guidance,” commented Townsquare CEO Bill Wilson, adding, “Over the next three years, we expect to grow our digital net revenue from $167 million (on a trailing twelve-month basis as of March 31, 2021) to $250 million.”
