TOWNSQUARE CEO RECOGNIZED AS 2021 EXECUTIVE OF THE YEAR BY RADIO INK; S&P GLOBAL ANNOUNCES REVISED OUTLOOK

PURCHASE, N.Y., Jan. 31, 2022 /PRNewswire/ -- Townsquare Media, Inc. (NYSE: TSQ) ("Townsquare," "Company" or "our") announced that Bill Wilson, Chief Executive Offer, has been recognized as the 2021 Radio Executive of the Year by Radio Ink, a leading industry publication. Bill received this recognition due to Townsquare's ongoing digital transformation, industry leading performance, and the Company's culture and talented workforce. Further details and insight can be gained from the exclusive interview Radio Ink held with Mr. Wilson in its cover story. You may subscribe to receive an issue of the article here, and a copy of the article is also available on Townsquare's website.

"I am honored and humbled to have received the award as Radio Ink's 2021 Executive of the Year. With the utmost sincerity, I could not have received this prestigious accomplishment without the incredible efforts of the entire Townsquare Team. This is really a team award and thus everyone at Townsquare should feel equally as great about this award as I do, because this is truly a reflection of the incredible work that we do every day helping and serving our clients, listeners and readers, communities and co-workers," said Mr. Wilson.

In addition, Townsquare announced that on January 18, 2022, S&P Global ("S&P"), a top market intelligence firm, revised its outlook to positive from stable. S&P also affirmed its 'B' issuer credit rating on Townsquare. According to S&P, its positive outlook reflects its expectation that Townsquare's gross leverage is on track to improve below 5.0x by the end of 2022. This expected improvement stems from the ongoing recovery in Townsquare's broadcast advertising revenue, the strong ongoing expansion in its digital business, and its strong political revenue related to the 2022 U.S. midterm elections.

"Townsquare's continued success is a testament to the strength of the Townsquare Team, our digital platform and solutions for local businesses, and our careful expense management efforts. We are honored to have a reputable external source such as S&P, take note of our strong performance," stated Stuart Rosenstein, Chief Financial Officer.

About Townsquare Media, Inc.
Townsquare is a community-focused digital media, digital marketing solutions and radio company focused outside the Top 50 markets in the U.S. Our assets include Townsquare Interactive, a digital marketing services subscription business providing websites, search engine optimization, social platforms and online reputation management for approximately 25,950 SMBs; Townsquare IGNITE, a proprietary digital programmatic advertising technology with an in-house demand and data management platform; and Townsquare Media, our portfolio of 322 local terrestrial radio stations in 67 cities with corresponding local news and entertainment websites and apps including legendary brands such as WYRK.com, WJON.com, and NJ101.5.com along with a network of national music brands including XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.

Investor Relations
Claire Yenicay
(203) 900-5555
[email protected]

SOURCE Townsquare Media, Inc.