Townsquare Reports Q4 2017, Full-Year Financials

Townsquare net revenues for Q4 2017 decreased $4.4 million to $114.3 million, down 3.7% from the same period last year. Net revenues for the year were down $8.6 million to $507.4 million, a decrease of 1.7% from 2016. Local net revenue saw increases on the quarter and the year, during which it grew $6.5 million (1.9%) to $348.7 million. "We are pleased to announce another strong result in our Local Marketing Solutions segment, which delivered net revenue growth of 0.4% in the fourth quarter of 2017, and 1.9% for the full year, despite the loss of political revenue," says Co-CEO Bill Wilson. "This was the 16th consecutive quarter of positive, organic net revenue growth for this segment of our company." More here.