Continued strength in digital and local ad sales pushed revenues up 2.9% to $103.1 million at Townsquare Media during the three months ending March 31. That marked a new first quarter record for the company, which beat its earlier Q1 guidance for both profit and revenue.
“Although we faced the same headwinds that have impacted the entire media sector, our first quarter results validate our Digital First Local Media strategy, with a focus exclusively on local markets outside of the Top 50,” CEO Bill Wilson said in a press release Wednesday morning ahead of a quarterly earnings call with analysts.
Townsquare Ignite, the company’s digital advertising segment, remains its top growth driver, with revenue (+15.4% to $33.7 million) and profits (+23%) both…
