Townsquare Media, Inc. (TSQ), a prominent provider of digital advertising and marketing solutions, announced on Monday a strategic partnership with SummitMedia, LLC. SummitMedia operates in nine U.S. markets, including Birmingham, AL; Greenville, SC; Honolulu, HI; Knoxville, TN; Louisville, KY; Omaha, NE; Richmond, VA; Springfield, MO; and Wichita, KS—areas that do not overlap with Townsquare’s current market presence.
This partnership is expected to significantly bolster the growth of Townsquare's Media Partnerships division, Townsquare Ignite, which was established earlier this year. Notably, digital advertising now accounts for 50% of Townsquare's total revenue and profit.