Townsquare Now 7th-Largest Radio Company By Revenue

It hasn't taken Steven Price long to steer Townsqaure Media toward the top of the radio revenue charts. In just under two years, the private company backed by Oaktree Capital has experienced phenomenal station - and revenue - growth, rivaled only by Cumulus. For the first year, Price kept Townsquare very much under the radar, shunning publicity while picking up some of radio's broken pieces and standing them back up. Townsquare now has 244 stations in small markets all over the United States; only Cumulus and Clear Channel have more. And perhaps, if Clear Channel were in a financial position to shed some of its smaller market stations, Townsquare would have more. It has more Oaktree money to spend and it's no secret the company is continually looking to grow. Tomorrow, Townsquare will celebrate its second birthday and, with its recent 55-station pickup from Cumulus, will do so as the 7th-largest radio company by revenue at approximately $240 million. As we reported in the 2011 "40 Most Powerful People In Radio" issue last July, (where Price debuted at number 17), Townsquare was ranked 12th in revenue with $133 million. At $240 million, Townsquare now generates more revenue than the radio assets of Radio One, Hubbard, Greater Media Salem, and Emmis, all of whom were ahead of it only 10 months ago, according to 2011 BIA numbers. And just an FYI: The 2012 "40 Most Powerful People In Radio" issue is only two months away. According to our calculations based on public financial documents, research, information from analysts, and other estimates provided to us over the past few weeks, here is how radio's top 10 companies are now aligned in terms of revenue (these numbers are our best guesstimates involving radio assets only):1) Clear Channel - 2.88 billion
2) CBS - $1.34 billion
3) Cumulus - $1.14 billion
4) Entercom - $383 million
5) Cox - $375 million
6) Univision $323 million
7) Townsquare $240 million
8) Radio One - $221 million
9) Hubbard $182 million
10) Salem - $179 million

Add a Comment Send This Story To A Friend

View the original article here