Townsquare, SummitMedia Forge A ‘Digital Advertising Strategic Alliance’

WHITE PLAINS, N.Y. — For quarter after quarter in recent years, the “local first” media company that derives the majority of its revenue from its digital advertising and marketing assets has prided itself on its non-broadcast revenue prowess.

Now, it is linking up with the company founded by veteran radio industry executive Carl Parmer to help that radio station ownership group with its digital solutions dollar opportunities.

Townsquare Media, led by CEO Bill Wilson from an office park in Purchase, N.Y., a stone’s throw away from Fairfield County, Conn., and Parmer’s Birmingham, Ala.-based SummitMedia LLC have forged a “strategic digital advertising partnership.”

This will bring Townsquare’s digital dollar-generation capabilities to SummitMedia’s audio brands in its home market of Birmingham, in addition to eight other areas: Greenville-Spartanburg, Honolulu, Knoxville, Louisville, Omaha, Wichita, Richmond, and Springfield, Mo.

These markets do not overlap with Townsquare’s 74-market footprint.

Specifically, Townsquare Ignite, the company’s digital programmatic ad tech platform, will serve as SummitMedia’s in-house digital advertising platform, “helping businesses of all sizes connect with their target audiences through data-driven strategies.”

Parmer commented, “We are very excited to partner with Townsquare and launch our new digital solutions arm, Summit Interactive. After exhaustive research, we concluded Townsquare is absolutely best-in-class and fully committed to digital. They have a truly outstanding team and we couldn’t be happier about the prospects of our partnership.”

“This alliance with SummitMedia marks a significant expansion of Townsquare’s Media Partnerships division,” the publicly traded company said early Monday (10/7). “Through this partnership, Townsquare will share its expertise and resources with SummitMedia, focusing on customized, data-driven strategies that meet the unique needs of local, regional and national businesses, helping SummitMedia grow its digital business alongside its respected broadcast presence.”

Todd Lawley, President of Townsquare Ignite, added, “Our success has been built on a deep understanding of how to leverage our proprietary in-house digital programmatic advertising platform and data-driven insights to create significant value for our clients. By sharing our proven strategies and robust business model, we can empower SummitMedia to enhance their digital offerings, driving growth and success for their clients.”

In comments shared with RBR+TVBR, Wilson said, “On our Q2 Earnings Call back in August, I mentioned that we already had one media partner — also with broadcast radio stations in a single market — and that by the end of 2024 we expected to partner and announce a second alliance where other traditional media companies can partner with us to power their digital programmatic advertising solutions in their own markets with their existing clients as well as new clients.”

Wilson added that Townsquare Media is currently in discussions with “numerous other broadcast companies” across both broadcast radio and television, as well as other traditional media companies in the print and out-of-home space. Wilson expects this will lead to additional alliances and partnerships in 2025 and in future years.

Ahead of the Opening Bell on the NYSE Monday, Townsquare Media shares (trading as “TSQ”) were at $10.34, up 17.2% in the last year.