Radio. It’s On. Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

A mass medium delivering audio content to passionate and loyal listeners across multiple platforms RADIO

RADIO TODAY RADIO LiveLocalMobilePersonalSocialInteractiveExperiential

On Air A mass medium capable of easily delivering your message to many people Targetable assuring the right people are exposed to your message A trusted medium and always available especially during times of crisis Online Digital capabilities offering interactive opportunities Complements and enhances on air campaign by reaching consumers using multiple touch points Delivers content wherever and whenever listeners want it On Target An environment that delivers consumers who are engaged and passionate about the content Offering companionship and information Exposure to the message when and where consumers are ready to buy or shop RADIO. IT’S ON.

CONSISTENT REACH LEVELS Source: Nielsen Audio, RADAR® , March 2014-December 2014, March 2015 (Monday-Sunday 24-Hour Cume Estimates, All Radio) A MEDIUM FOR ALL SEASONS

REACH AND TIME SPENT ACROSS DEMOS Weekly Reach: 91.2% Weekly TSL: 11hrs:56min Best Daypart: 3-7p Reach: 79.8% Adults Weekly Reach: 93.9% Weekly TSL: 14hrs:32min Best Daypart: 3-7p Reach: 84.3% Adults Weekly Reach: 93.6% Weekly TSL: 15hrs:52min Best Daypart: 10a-3p Reach: 84.2% Adults Weekly Reach: 93.2% Weekly TSL: 13hrs:15min Best Daypart: 10a-3p Reach: 81.9% Hispanic 12+ Weekly Reach: 91% Weekly TSL: 13hrs:55 min Best Daypart: 10a-3p Reach: 78.7% African- American 12+ Source: Nielsen Audio RADAR 124, March 2015 (Monday-Sunday 24-Hour TSL and Cume Estimates; Monday- Sunday Daypart Cume Estimates)

HIGH REACH VS. OTHER MEDIA OPTIONS Source: Scarborough USA+, Release USA Adults Adults 18-34

HIGHER REACH VS. OTHER MEDIA OPTIONS Adults Source: Scarborough USA+, Release USA Adults 25-54

HIGHER REACH VS. OTHER MEDIA OPTIONS Adults 18+ Source: Scarborough USA+, Release USA Adults 25-54

LISTENERS CHOOSE RADIO OVER FACEBOOK

MOST USED SOURCE FOR MUSIC DISCOVERY Source: The Infinite Dial 2015 – Edison Research / Triton Digital Base: Those saying it is “Very Important” or “Somewhat Important” to Keep Up-To-Date With New Music

BROADCAST RADIO PLAYS MORE “LIKED” SONGS Based on 1,100 respondents in PPM markets, 2014

MOST LISTENED TO AUDIO SOURCE Question: Which of the following radio channels and sources did you listen to on (target day/typical day)? (n=1010)

TECHNOLOGY DELIVERS RADIO BEYOND THE DIAL Expanding Radio’s delivery platforms to create an interactive, engaging and highly communicative environment via devices and apps Image Source: Tune-In and iHeartRadio

30 million Over the next 3 years phones will have an FM Chip FM-ENABLED SMARTPHONES Source: NextRadio + TagStation Insights – For additional updates : To date, over: 2,335,000 app downloads 11,665 FM radio stations tuned to from the app 4,385,000 hours of listening through NextRadio And ranked 9 th in Google Play top free music apps

“Content cards” provide information and highly relevant interactive tools: Click to buy (song or other related content) Upcoming concerts and album releases for artist currently playing Recent station playlist DELIVERS RELEVANT INTERACTIVITY Source: NextRadio + TagStation Insights – For additional updates :

MORE TECHNOLOGY THAT CONVERTS LISTENING TO ENGAGEMENT Technology converts radio listening into an engaging user experience, empowering listeners to see what they hear and take action. Image Source: Clip Interactive

PULLING DIGITAL CONTENT ONTO DEVICES Click here Click here to view Clip Interactive case studies Image Source: Clip Interactive

Streaming Over 7200 streaming stations in 2014 Podcasts 46MM Americans have downloaded a podcast in the past month HD Radio Over 23 Million HD radio receivers are in the marketplace RADIO’S DIGITAL PLATFORMS ARE STEADILY GROWING Source: Inside Radio / M Street Corp., 2014; No Canadian or Mexican stations are included; The Infinite Dial 2015 – Edison Research / Triton Digital; HD Radio stat from iBiquity/HD Radio Alliance, 2014

MOST CHOSEN IN-CAR FEATURE Source: Ipsos In-Car Audio Study, February 2015 Q: Disregarding any associated costs, if you could select only up to 3 of the following options to be available on your next car entertainment systems, which 3 would you select? Preference for Entertainment Options in Next Car

THE BATTLE FOR THE DASH All major auto brands offered factory-installed HD Radio Technology as of Source: iBiquity

BROADCAST RADIO LISTENED TO MORE BY PURE-PLAY LISTENERS Sources What Pandora Means for Radio, Vision Critical, November 2012; Base: American online adults, aged 18+ ; Sample: 1,017 American adults; of these, 323 identified themselves as Pandora users (used an Internet-only audio service in the past month; and at least sometimes use Pandora) 33

HEAVY PANDORA USERS ARE HEAVY BROADCAST RADIO LISTENERS Source: NuVoodoo study based on 1,110 respondents in PPM markets - released 2014

CHANGING VIEWS OF PANDORA LISTENERS Source: Jacobs TechSurvey 11, 2015 NA Among those listening less

Source: The Infinite Dial 2014 – Edison Research / Triton Digital; USC, Annenberg School for Communication & Journalism, PSI Study Released June 2012, Woodley, P. and Movius, L. People With a Favorite Radio Personality in LA; Scarborough USA+ Release 2 of 2012 LISTENERS TAKE THEIR AUDIO ON THE GO On-demand content delivering sports, music, information and entertainment downloads whenever and wherever the listener wants it 66% of Smartphone users listen to online radio every week 55% of listeners said they listen to their favorite personalities on computers or mobile devices when away from a radio

GREATEST SHARE OF AUDIO AM/FM Radio Satellite Radio Music Streaming Services Digital/iPods/MP3s CDs Source: USA TouchPoints. Percent Share of Audio Usage by Source. Adults Average Mon-Fri. Note: Radio includes HD Radio and radio station streaming, Music Streaming Services include iHeartRadio, Pandora, Rdio, Slacker, Spotify, etc.

RADIO PEAKS DURING THE WORKDAY How to read: Each day from 3-7p, radio reaches 41% of Adults 18+. Source: Nielsen Audio, RADAR 124, March 2015 (Persons 18+, and 35-64, Monday-Sunday 24-Hour Daily Cume Estimates, All Radio)

RADIO SPARKS BRAND CONVERSATION Heavy Radio listeners (2+ hrs. daily) generate 329 WOM impressions annually …More than Heavy TV Viewers (5+ hrs. daily) at 218B …Heavy Print readers (1+ hrs. daily) at 209B …Heavy Internet users (5+ hrs. daily) at 208B Radio is a social medium Source: Keller Fay Group 2013

RADIO BOOSTS CAMPAIGN EFFECTIVNESS Source: Nielsen Catalina Solutions Copyright 2014

DRIVING INFLUENCE AND BEHAVIOR Radio Advertising topped Television, Social Media, and Direct Mail and was 2x as effective as Newspapers in influencing Healthcare choices. A media advertiser saw a 16% conversion rate for promos when using radio as a reminder medium, building increased frequency. Source: Nielsen Catalina Solutions Copyright 2014

REACHING MAIN STREET CONSUMERS 94 % Households who plan to buy a smartphone next year Household plans to buy/lease a new SUV or luxury vehicle next year 92 % Ate at fast- food/sit down restaurant 5 or more times in past month A18+ whose household used an accountant this past year 90 % A18+ shopped any major department store in past 3 months A18+ who are registered to vote in district of residence Source: Scarborough USA Release 2 (August 2012-September 2013)

AN EMOTIVE MEDIUM

A POSITIVE ENVIRONMENT TO DELIVER AD MESSAGES 49% To get into a better mood 33% Hear things that make you laugh 46% Relax & unwind when tense 31% Keep you company when alone 36% Take your mind off problems 29% Add to the fun when with other people 35% Get an energy boost Source: Mark Kassof & Co. ListenerThink; based on an online survey of 989 listeners 18-64

DRIVEN BY AN EMOTIONAL CONNECTION TO RADIO PERSONALITIES Have called into a station, met a DJ in their community, or interacted in some other manner 80% Agree that their favorite radio stations reflect who they are as a person* 66% Consider radio personalities to be regular people like themselves 70% This radio hosts are “like a friend” whose opinions they trust and value. 70% Source: Woodley, P.. Parasocial Interaction between On-Air Radio Personalities and Listeners. USA, Annenberg Scholl for Communication & Journalism, released April 2014; * Latitude Research and OpenMind Strategy, State of Listening in America, May 2013.

PERSONALITY TESTIMONIALS DRIVE RADIO LISTENER TRUST Does hearing one of your favorite radio station personalities provide testimonials for health care or medical products or services make you trust that product or service…

Prizes 12% Sports 16% Charitable Events 20% Talk Shows 28% Music Surprises 28% Escape Life’s Pressures 31% Discover New Music 34% Emergency Info 34% RADIO’S EQUATION What’s Going On Locally 39% Get in a Better Mood 40% Keeps Me Company 45% In the Habit 48% News/ Weather/ Traffic 49% Like to Work with Radio 55% DJs/ Hosts/ Shows 55% Hear Favorite Songs 67% Main Reason for Listening to Radio MUSIC + INFO + EMOTION Source: Jacobs TechSurvey 11, 2015

2011 highlights 93% retention 2006 highlights 92% retention No time shifting No below the fold No load times Sources: 2011 Nielsen Audio, Media Monitors, and Coleman Insights NO COMMERCIAL SKIPPING

RADIO WORKS FOR THE CONSUMER AND THE ADVERTISER

On Air A mass medium capable of easily delivering your message to many people Targetable assuring the right people are exposed to your message A trusted medium and always available especially during times of crisis Online Digital capabilities offering interactive opportunities Complements and enhances on air campaign by reaching consumers using multiple touch points Delivers content wherever and whenever listeners want it On Target An environment that delivers consumers who are engaged and passionate about the content Offering companionship and information Exposure to the message when and where consumers are ready to buy or shop RADIO. IT’S ON.