Townsquare Media is hitting the wall of its own “digital first” narrative as CEO Bill Wilson recently admitted publicly that radio is the company’s problem, a striking statement considering they still operate over 300 stations -- not just candid, it’s revealing.
- Digital growth is stalling -- Townsquare claims over 50% of its revenue is digital but that’s not exactly right.
- Radio revenue is declining and for whatever reason the company is openly acknowledging that it’s a drag on revenue.
- Lost almost half its stock value over the past full year as its digital-first strategy runs into headwinds.
- Investors aren’t buying it – That’s with a chummy relationship with Noble Capital Partners shilling for CEO Bill Wilson who is often a participant in Noble events as well as other close ties.
- Wilson’s quote essentially concedes what critics have long suspected.
- What it means: What’s Plan B after digital-first.
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