Townsquare scores 8% growth in Q2
Townsquare Media saw a 7.8% pro forma revenue increase in the quarter compared to the same period last year. Live events, local digital and national website divisions offset flat local ad revenue. On an actual basis, net revenue increased $33.8 million, or 46.6%, to $106.3 million, compared to $72.5 million in the same period last year. Local Advertising net revenue increased $20.3 million, or 35.2%, to $78.1 million, and Other Media and Entertainment net revenue increased $13.5 million, or 91.4%, to $28.2 million. These increases were primarily attributable to the acquisitions made during the second half of 2013, including certain assets of Peak II Holding, LLC, Cumulus Media and certain live events.