Townsquare Media Reports 9.5 Percent Net Revenue Increase

Townsquare Media announced today financial results for the fourth quarter and year ended December 31, 2014.

Fourth Quarter Highlights

• Pro forma net revenue increased 9.5%
• Pro forma Local Advertising net revenue increased 5.6%
• Pro forma Live Events net revenue and pro forma Other Media and Entertainment net revenue saw strong increases
• Pro forma Adjusted EBITDA excluding duplicative and non-recurring corporate expenses increased 8.6%

Full Year Highlights

• Pro forma net revenue increased 8.4%
• Pro forma Local Advertising net revenue increased 2.6%
• Pro forma Live Events net revenue and Pro Forma Other Media and Entertainment net revenue saw strong increases
• Pro forma Adjusted EBITDA excluding duplicative and non-recurring corporate expenses increased 3.5%
• Nearly 30% of pro forma net revenue was derived from sources other than the sale of terrestrial radio station advertising

"Consistent with our January pre-announcement, we are pleased to report fourth quarter pro forma net revenue growth of 9.5% and pro forma Adjusted EBITDA growth of 8.6%, with strong growth in each of our operating segments. Further, we are pleased to announce that we have broken out our Live Events business as a separate reportable operating segment and believe this will provide increased transparency to our investors. Nearly 30% of our 2014 pro forma net revenue was derived from sources other than the sale of terrestrial radio advertising," commented Steven Price, Chairman and Chief Executive Officer of Townsquare Media, Inc.