1. Mark Mulligan March 2013 Making Streaming Add Up

2. www.midiaconsulting.comwww.midiaconsulting.com – Mark Mulligan - January 2013 24 million total* 26 million total* iTunes: 400 million credit card linked accounts Streaming’s Heavyweights *Deezer total refers to registered users, Spotify total refers to reported Facebook users (millions)

5. Streaming Music is Breaking Out of a Young Male Early Adopter Skew Streaming Music Penetration by Age Penetration by Gender % of all consumers Source: EMI Insight Data, 2011

6. Streaming’s Is Growing Fast But Downloads Are Still Where The Money Is (millions) Digital Revenue of the World’s Top 10 Music Markets Digital music revenue Source: IFPI and MIDiA Estimates Streaming and Subscriptions: 244% Other digital: 22% 2008 to 2012 Growth www.midiaconsulting.comwww.midiaconsulting.com – Mark Mulligan - March 2013

7. Spotify’s Total Users Growth Is Solid But Only Average for Streaming Music Services Source: Company reported numbers Million users Months from launch of service www.midiaconsulting.comwww.midiaconsulting.com – Mark Mulligan - January 2013

8. Experience is the product! Streaming is not a product!

9. Contact: Mark Mulligan Phone: +44 (0) 780 11 66 712 Email: mark@midiaconsulting.com Web: http://www.midiaconsulting.comhttp://www.midiaconsulting.com Blog: http:// musicindustryblog.wordpress.comhttp:// musicindustryblog.wordpress.com Twitter: @mark_mulligan www.midiaconsulting.comwww.midiaconsulting.com – Mark Mulligan - January 2013