Townsquare Forms Strategic Alliance with Steel City Media
Rhea-AI Summary
Townsquare Media (NYSE: TSQ) has announced a strategic digital advertising partnership with Steel City Media, expanding its Media Partnerships division launched in 2024. The alliance will allow Steel City Media to utilize Townsquare Ignite's digital advertising and marketing solutions in Pittsburgh and Kansas City markets, which don't overlap with Townsquare's existing territories.
This partnership follows Townsquare's previous alliance with SummitMedia and aligns with the company's digital growth strategy, with digital now representing over 50% of Townsquare's total revenue and profit. Through this collaboration, Townsquare will share its proprietary programmatic advertising platform and data-driven insights to help Steel City Media enhance its digital capabilities and deliver better results for clients.
Positive
- Digital segment represents over 50% of total revenue and profit
- Strategic expansion into new non-competing markets through partnership
- Addition of 2 million weekly listeners through Steel City Media's reach
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TSQ declined 1.42%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PURCHASE, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare” or the “Company”), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Steel City Media, a multi-media company with market-leading media outlets in Pittsburgh and Kansas City. Townsquare teased this partnership in the pre-release of their estimated 2024 financial results last week.
“We could not be more excited to have the talented team at Steel City Media join our partnership program. They will now be able to leverage Townsquare Ignite’s cutting-edge digital advertising and marketing solutions to their expansive customer base, which importantly exists in markets that do not compete with ours,” said Todd Lawley, President of Townsquare Ignite, the Company’s Digital Advertising division. “Our expertise is coaching and training high performing broadcast sales teams to leverage our proprietary programmatic advertising platform and data-driven insights to deliver exceptional results for their clients. By sharing our proven strategies and dynamic approach, we look forward to helping Steel City strengthen their digital capabilities, driving growth and measurable success for their clients.”
Townsquare announced the launch of their Media Partnerships division in 2024. As part of the Company’s Digital Advertising segment (also called Townsquare Ignite), the Media Partnerships division provides a white-label service that equips other local media companies with the digital advertising solutions that have fueled Townsquare’s own growth and success, with digital now comprising over
“We are excited to partner with Townsquare Ignite in both of our markets. Townsquare has the best digital solutions in the radio industry and a proven track record of delivering great results to clients,” commented Michael Frischling, Vice President of Steel City Media.
About Townsquare Media, Inc.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services; a robust digital advertising division, Townsquare Ignite, a powerful combination of a) an owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 345 local terrestrial radio stations in 74 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com and NJ101.5.com, and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com, and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.
About Steel City Media
Steel City Media is a multi-media company with market leading media outlets in both Pittsburgh and Kansas City. Since 1984, Steel City Media has been connecting local audiences to great radio content through our market-leading media outlets. Our six heritage, LIVE & LOCAL radio stations reach nearly 2 million listeners each week and feature trusted on-air influencers in each of our markets. Our full-service digital advertising agency provides local and national clients customized campaigns that build brand awareness, attract new customers and drive more traffic. For more information, please visit www.steelcitymedia.com.
Townsquare Contact
Claire Yenicay
(203) 900-5555
investors@townsquaremedia.com
Steel City Media Contact
Michael Frischling
412-316-3342
mfrisch@steelcitymedia.com
FAQ
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