Townsquare Media : November 2022 Investor Presentation –

November 2022
This presentation contains, and our other communications may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements, written, oral or otherwise made, represent the Company’s expectation or belief concerning future events. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. The forward-looking statements contained in this presentation include statements related to the Company’s current views and expectations with respect to its future performance and operations and other anticipated future events and expectations that are not historical facts.
By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in the sections entitled “Risk Factors” and “Forward-Looking Statements” included in our Annual Report on Form 10-K,10-K/A or other applicable documents that are filed or furnished with the Securities and Exchange Commission (“SEC”). We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made. You, however, should consult further disclosures (including disclosures of a forward- looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC, or in any document posted to the “Investors” section of the Company’s website.
The unaudited estimates and statements included herein are the opinion of management and represent estimates and expectations based on the most current information available. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors and it is impossible for us to anticipate all factors that could affect our actual results. Our actual results may differ materially from these estimates due to the completion of our financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for our fourth quarter are finalized. This preliminary financial data has been prepared by and is the responsibility of management. Our independent registered public accounting firm, BDO USA, LLP, has not audited, reviewed, compiled or performed any procedures with respect to the accompanying preliminary financial data. Accordingly, BDO USA, LLP does not express an opinion or any other form of assurance with respect thereto. As a result of the foregoing considerations and limitations, investors are cautioned not to place undue reliance on this projected financial information.
This presentation includes non-GAAP financial measures within the meaning of the federal securities laws, including Adjusted Operating Income (sometimes referred to as Profit), Adjusted Operating Income Margin, Adjusted EBITDA, and Adjusted EBITDA (Excluding Political). We define Adjusted Operating Income as operating income before the deduction of depreciation and amortization, stock-based compensation, corporate expenses, transaction costs, business realignment costs, impairment of goodwill, long-lived and intangible assets and net loss (gain) on sale and retirement of assets. We define Adjusted Operating Income Margin as Adjusted Operating Income divided by net revenue. We define Adjusted EBITDA as net income (loss) before the deduction of income taxes, interest expense, net, loss (gain) on repurchases, extinguishment and modification of debt, transaction costs, depreciation and amortization, stock-based compensation, business realignment costs, impairment of goodwill, long-lived and intangible assets, impairment of investments, change in fair value of investment, net (income) loss from discontinued operations, net of income taxes, net loss (gain) on sale and retirement of assets and other expense (income) net. We define Adjusted EBITDA (Excluding Political) as Adjusted EBITDA less political net revenue, net of a fifteen percent deduction to account for estimated national representative firm fees, music licensing fees and sales commissions expense. Adjusted Operating Income, Adjusted EBITDA, and Adjusted EBITDA (Excluding Political) do not represent, and should not be considered as alternatives to, net income or cash flows from operations as determined under U.S. generally accepted accounting principles, or GAAP. Reconciliations of certain of these measures to net income are included in the Appendix of this presentation and in Exhibit 99.1 to our Current Report on Form 8-K filed with the SEC on November 9, 2022.
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 for approximately 29,850
SMBs; a robust digital advertising business, Townsquare Ignite, a powerful combination of a) an owned and operated portfolio of over 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 357 local terrestrial radio stations in 74 U.S. markets strategically situated outside the Top 50 markets in the United States
leading radio stations, principally focused on hundreds of underserved small and mid-sized local markets outside the Top 50 markets across the U.S.
$453M / $111M
LTM 9/30/22
LTM 9/30/22
Net Revenue/
Net Revenue from
Adjusted EBITDA
Digital Solutions
with ~50% of all profit and revenuesourced and generated from our recurring subscription digital marketing solutions and digital advertising divisions, which are greatly differentiated in TSQ’s markets vs. local digital agencies or other competitors
107% / 110%
Sep YTD 2022 Net Revenue /
Adjusted EBITDA
as % of Sep YTD 2019
72M / 11M
Total Digital / Broadcast
~6.5x Digital Audience
to Radio Audience
50% / 49%
Sep YTD 2022
Net Revenue / Adjusted
Operating Income
from Digital Solutions
20% / 24%
Adjusted EBITDA from
Digital Subscription Solutions (Townsquare Interactive)(2)
Note: Please refer to page 2 for definitions of non-GAAP measures.
From 2010 → To Q3 2022
From local, ingrained teams in 13 local markets to 74 local markets
From <1M UVs per Month to 72M UVs Per Month
From No Social Platform to 40M+ Social Media Followers
From No Video Platform to 3.5B+ YouTube Lifetime Views
From No Subscription Services to a Subscription Digital Marketing Solutions Company with ~30K Subscribers
From No Broadcast Attribution to ~1,400 campaigns measured by Townsquare Analytics
From No First Party Data Platform to a Robust Platform with 18 million unique identifiers From Nearly 100% Radio Revenue/Profit to 50% Digital Revenue/Profit
From A Pure Radio Broadcast Company to a Digital First Local Media Company
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Townsquare Media Inc. published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 11:20:22 UTC.


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