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IMMEDIATE RELEASE

TOWNSQUARE REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS
ANNOUNCES $0.075 DIVIDEND PER SHARE

Greenwich, CT - March 13, 2018 - Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare,” the “Company,” “we,” “us,” or “our”) announced today financial results for the fourth quarter and year ended December 31, 2017.

“We are pleased to announce another strong result in our Local Marketing Solutions segment, which delivered net revenue growth of 0.4% in the fourth quarter of 2017, and 1.9% for the full year, despite the loss of political revenue.  This was the 16th consecutive quarter of positive, organic net revenue growth for this segment of our Company.  Excluding political revenue, Local Marketing Solutions net revenue increased 5.2% in the fourth quarter of 2017, our strongest quarter of the year, and 3.9% for the full year,” commented Bill Wilson, Co-Chief Executive Officer of Townsquare.

The Company also announced today that its Board of Directors approved the initiation of a quarterly cash dividend of $0.075 per share. The dividend will be payable on May 15, 2018 to shareholders of record as of the close of business on April 2, 2018.

“The Board’s decision to approve a dividend reflects confidence in our current capitalization, the strength of our balance sheet, our free cash flow generation, and our outlook for 2018,” commented Dhruv Prasad, Co-Chief Executive Officer of Townsquare. “Our quarterly cash dividend of $0.075 per share, or $0.30 per share on an annual basis, commences in May 2018.”

Fourth Quarter Highlights*
As compared to the fourth quarter of 2016 on an actual basis:
Local Marketing Solutions net revenue increased 0.4%, and 5.2% excluding political revenue
Entertainment net revenue decreased 17.4%
Net revenue decreased 3.7%, and 0.2% excluding political revenue
Net income from continuing operations decreased 941.5%
Adjusted EBITDA decreased 12.7%, to $21.6 million, consistent with previously issued guidance
Diluted net loss per share from continuing operations and diluted Adjusted Net Income Per Share were $(1.42) and $0.14, respectively

Full Year Highlights*
As compared to the year ended December 31, 2016 on an actual basis:
Local Marketing Solutions net revenue increased 1.9%, and 3.9% excluding political revenue
Entertainment net revenue decreased 8.6%
Net revenue decreased 1.7%, and 0.4% excluding political revenue
Net income from continuing operations decreased 138.3%
Adjusted EBITDA decreased 8.8%, to $97.2 million, consistent with previously issued guidance
Diluted net loss per share from continuing operations and diluted Adjusted Net Income Per Share were $(0.48) and $0.74, respectively
Repaid $6.7 million of long-term debt

* See below for discussion of non-GAAP measures and reconciliations to GAAP measures.

1


The following information was filed by Townsquare Media, Inc. (TSQ) on Tuesday, March 13, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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