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Cumulus Media vs Townsquare Media: CMLS and TSQ compared
Cumulus Media is the larger company: $168M of revenue in its latest quarter (Q2 2026) against $111M for Townsquare Media (Q3 2026). Townsquare Media is growing faster (+4% against -10% a year earlier). Townsquare Media is more profitable, with an operating margin of 5.0% against 1.4%.
Where the money goes: CMLS and TSQ
Cumulus Media (CMLS) · Q2 2026
Cumulus Media, Q2 2026: revenue $168M (-10% year over year), operating margin 1.4%, net loss $9.2M, operating cash flow $6.6M. The chart follows the revenue to costs, profit and cash.
Townsquare Media (TSQ) · Q3 2026
Townsquare Media, Q3 2026: revenue $111M (+4% year over year), operating margin 5.0%, net loss $4.0M, operating cash flow $5.1M. The chart follows the revenue to costs, profit and cash.
| Cumulus Media (CMLS) | Townsquare Media (TSQ) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $168M | $111M |
| Revenue growth, Y/Y | -10% | +4% |
| Operating margin | 1.4% | 5.0% |
| Net earnings | −$9.2M | −$4.0M |
| Net margin | -5.5% | -3.6% |
| Operating cash flow | $6.6M | $5.1M |
| Free cash flow | $3.4M | $2.3M |
Where the revenue comes from
Cumulus Media
- Total broadcast radio revenue: $103M (61%)
- Digital: $38.7M (23%)
- Other: $26.3M (16%)
Townsquare Media
- Broadcast Advertising: $47.2M (43%)
- Digital Advertising: $45.3M (41%)
- Subscription Digital Marketing Solutions: $17.1M (15%)
- Other: $1.3M (1%)
Questions
Which is bigger, Cumulus Media or Townsquare Media?
Cumulus Media is the larger company: $168M of revenue in its latest quarter (Q2 2026) against $111M for Townsquare Media (Q3 2026).
Is Cumulus Media or Townsquare Media growing faster?
Townsquare Media is growing faster (+4% against -10% a year earlier).
Which is more profitable, Cumulus Media or Townsquare Media?
Townsquare Media is more profitable, with an operating margin of 5.0% against 1.4%.
More: Cumulus Media earnings · how Cumulus Media makes money · Townsquare Media earnings · how Townsquare Media makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 14, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.