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Mog music network steven price12/9/2023 ![]() So we appreciate him taking the time to answer our questions about Townsquare’s innovative business model. You don’t read his name in the trades every other day, as he is known for keeping a low profile. Their CEO, Steven Price, is the visionary behind his company’s unique approach. So when you look at their financial spreadsheet, a question that comes to mind is whether Townsquare is a radio company? A media company? An events company? Or is it a hybrid that leverages its assets to build brands and generate revenue?Ī look at their website indicates Townsquare is all these things – and more. In 2014, the company reported that nearly 30% of its net revenue came from sources other than terrestrial ad sales.īackstage at CES 2023 What was new at CES 2023 in Las Vegas? And how will it impact radio broadcasters? Watch our webinar to find out! One of their defining differences is their emphasis on non-traditional revenue, which is rooted in their commitment to event programming. These days, Townsquare is in the process of buying up festivals and event companies. Townsquare has been about media and entertainment partnerships and acquisitions, including acquiring websites from AOL, and other digital assets. No New York City, Dallas, Phoenix, or San Francisco. So, first and foremost, there’s an intrinsic belief in the power of smaller market, local radio.īut it goes beyond that, because since Day One, Townsquare has shown a laser-focused commitment to digital, with an emphasis on websites, music blogs, and other online content. None of the stations in their portfolio is in the Top 25 markets. But the fact is, broadcasters are more willing than ever to put in on the line and test drive different approaches.Ī case in point is Townsquare Media, a company that is just five years old, but has quietly become the third largest AM/FM operator in the U.S. At more than 300 stations, Townsquare is a nationwide force, and they’ve done it by throwing away the conventional radio playbook. Townsquare's properties are primarily in small markets, but their out-sized approach to revenue generation and the local event piece of the puzzle are reasons to take a deeper look at what they've accomplished in the five years they've been in existence.Ĭritics of radio broadcasting companies these past few years always seem to cite a lack of imagination and innovation, little risk taking, and a tendency to do things the way they’ve always been done. One of the best examples of current innovation is none other than the third largest broadcaster, Townsquare Media, and their CEO, Steven Price. Our “ Radio's Most Innovative” series continued to shine the light on swashbucklers, inventors, and crusaders from radio past and present.
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