Townsquare Media Inc——2025年季度报告

SECURITIES AND EXCHANGE COMMISSION ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Townsquare Media, Inc. (Exact name of registrant as specified in its charter) 27-1996555(I.R.S. Employer Identification No.) One Manhattanville RoadSuite 202Purchase,New York10577(Address of Principal Executive Offices, including Zip Code) Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule12b-2 of the If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ As ofMay1, 2025, the registrant had 16,351,506 outstanding shares of common stock consisting of: (i)15,036,210shares of ClassA common stock, par value $0.01 pershare and (ii)815,296shares of Class B common stock, par value $0.01 per share; and (iii)500,000shares of Class C common stock, par value $0.01 per share. TOWNSQUARE MEDIA, INC. INDEX Note 1.Organization and Basis of Presentation Description of the Business Townsquare is a community-focused digital and broadcast media and digital marketing solutions company principallyfocused outside the top 50 markets in the U.S. Townsquare Ignite, our robust digital advertising division, specializes in helpingbusinesses of all sizes connect with their target audience through data-driven, results based strategies, by utilizing a) our proprietarydigital programmatic advertising technology stack with an in-house demand and data management platform and b) our owned andoperated portfolio of more than400local news and entertainment websites and mobile apps along with a network of leading nationalmusic and entertainment brands, collecting valuable first party data. Townsquare Interactive, our subscription digital marketingservices business, partners with small and medium-sized businesses (“SMBs”) to help manage their digital presence by providing a Current economic challenges, including high and sustained inflation and interest rates, and enacted and proposed tariffs havecaused and could continue to cause economic uncertainty and volatility. These factors could result in advertising and subscriptiondigital marketing solutions cancellations, declines in the purchase of new advertising by our clients, declines in the addition of newdigital marketing solutions subscribers, and increases to our operating expenses. We monitor economic conditions closely, and in The extent of the impact of current economic conditions will depend on future actions and outcomes, all of which remainfluid and cannot be predicted with confidence (including effects on advertising activity, consumer discretionary spending and our Basis of Presentation The accompanying Unaudited Consolidated Financial Statements should be read in conjunction with the Company’s auditedConsolidated Financial Statements and related notes thereto included in the Company's Annual Report on Form 10-K (the "2024Annual Report on Form 10-K"). The accompanying unaudited interim Consolidated Financial Statements include the consolidatedaccounts of the Company and its wholly-owned subsidiaries, with all significant intercompany balances and transactions eliminated inconsolidation. These financial statements have been prepared in accordance with Generally Accepted Accounting Principles in theUnited States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q. Accordingly, they do notinclude all of the information and notes required by U.S. GAAP for complete financial statements. All adjustments (consisting only of Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates andjudgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets andliabilities. On an ongoing basis, the Company evaluates its significant estimates, including those related to assumptions used indetermi