RADIO. IT’S ON FOR HISPANICS

A mass medium delivering audio content to passionate and loyal listeners across multiple platforms RADIO Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

RADIO TODAY RADIO LiveLocalMobilePersonalSocialInteractiveExperientialEngagingEmotionalImmediate Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

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. Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

41 Mil lio n + Hispanics 12+ tune into Radio every week Source: Nielsen Audio, RADAR 129 June 2016 (Persons 12+, Monday-Sunday 24-Hour Cume Estimates) Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

93% of Hispanics 12+ every week Source: Nielsen Audio, RADAR 129, June 2016 (Hispanics 12+, Monday-Sunday 24-Hour Weekly Cume Estimates) RADIO’S REACH Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

RADIO’S INCREDIBLE REACH

RADIO BOASTS HIGHEST MASS REACH AMONG POPULAR MEDIA Source: Nielsen Comparable Metrics Report Q Weekly Reach (% of Population) Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

CONSISTENT REACH LEVELS Source: Nielsen Audio, RADAR® June 2015, September 2015, December 2015, March 2016, June 2016 (Monday-Sunday 24-Hour Cume Estimates, All Radio) A MEDIUM FOR ALL SEASONS Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

HIGHEST REACH AMONG ALL MEDIA OPTIONS Hispanics 18+ Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: Scarborough USA+, 2016 Release 1 Hispanics 18+ (February 2015 – April 2016)

HIGHEST REACH AMONG ALL MEDIA OPTIONS Hispanics Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: Scarborough USA+, 2016 Release 1 Hispanics (February 2015 – April 2016)

HIGHEST REACH AMONG ALL MEDIA OPTIONS Hispanics Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: Scarborough USA+, 2016 Release 1 Hispanics (February 2015 – April 2016)

PEOPLE LISTEN AND LISTEN

COMPARABLE GENDER TUNE-IN TIME Source: Nielsen Audio, RADAR 129, June 2016, (Monday-Sunday 24-Hour Weekly TSL Estimates) Hispanic W Hours Per Week Hispanic M Hours Per Week Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

Hispanic listeners and African American listeners (versus General Market, P 25-54) 14.5 Hours 14.4 Hours 14.0 Hours TUNE-IN TIME HIGHER AMONG HISPANIC AND AFRICAN AMERICAN LISTENERS Source: Nielsen Audio, RADAR 129, June 2016, (Monday-Sunday 24-Hour Weekly TSL Estimates) Presentation courtesy of the Radio Advertising Bureau, 20156– All Rights Reserved

RADIO PEAKS FOR HISPANICS DURING THE WORKDAY How to read: Each week in the 3-7pm daypart, radio reaches 84% of Hispanics Source: Nielsen Audio, RADAR 129, June 2016 (Hispanics 18+, 18-34, and 35-64, Monday-Sunday 24-Hour Weekly Cume Estimates, All Radio) 6-10A 10A-3P3-7P 7P-12M Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved 6-10A 10A-3P3-7P 7P-12M 6-10A 10A-3P3-7P 7P-12M 6-10A 10A-3P3-7P 7P-12M

RADIO’S TSL IS CONSISTENT ACROSS ALL GROUPS WEEKLY TIME SPENT – ELECTRONIC DEVICES Source: Nielsen Comparable Metrics Report Q Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved HRS:MIN Weekly

RADIO – A SIGNIFICANT PART OF THEIR WEEK Source: Nielsen Comparable Metrics Report Q Hispanic Adults 18+ Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

Sources: 2011 Arbitron, Media Monitors, and Coleman Insights – “What Happens When The Spots Come On” NO COMMERCIAL SKIPPING High audience levels among Hispanic Listeners and Spanish Music stations Delivers 92% of lead-in audience and 95% on Spanish music stations Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

RADIO IS IMPORTANT TO LISTENERS

RADIO IS VALUABLE TO HISPANIC LISTENERS Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: The State of Digital Audio in the U.S. Hispanic Market 2016, based on a n online survey of U.S. Spanish speaking respondents *Digital Audio: traditional radio as well as through the internet and also in streaming services and other media 88% Consider online radio an important part of their daily lives 54% Expect to listen to even more hours of radio in 2016

HISPANIC LISTENERS INTERACT WITH RADIO Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: Jacobs TechSurvey 12, 2016, n-39503

A SOURCE FOR MUSIC DISCOVERY BY HISPANICS Base: Those saying it is “Very Important” or “Somewhat Important” to Learn About and Keep Up-To-Date With New Music (47% of total P12+ population) % Who Ever Use Each Source to Learn About and Keep Up-To-Date With New Music Source: The Infinite Dial 2016 – Edison Research / Triton Digital Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

SOURCES MOST USED BY HISPANICS FOR MUSIC DISCOVERY Base: Those saying it is “Very Important” or “Somewhat Important” to Keep Up-To-Date With New Music Source: The Infinite Dial 2016 – Edison Research / Triton Digital Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

RADIO ACROSS PLATFORMS AND DEVICES

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 Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

FM RADIO EXPERIENCE ON SMARTPHONES Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved  Delivers real-time view of what’s playing on-air  Live interaction with favorite local radio stations  Use 3x less battery and 20x less data compared to streaming radio apps Source: NextRadio + TagStation Insights – For additional updates :

Source: NextRadio + TagStation Insights – For additional updates : Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved As of October 2016: Over 9.2 million app downloads Over 15,100 FM radio stations tuned to from the app Over 22.2 million hours of listening through NextRadio And 4/5 in Google Play Store user rating

“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 : Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

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 Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

PULLING DIGITAL CONTENT ONTO DEVICES Click here Click here to view Clip Interactive case studies Image Source: Clip Interactive Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

HD Radio 25.1MM Vehicles equipped with HD Radio Podcasts 98MM Americans have ever listened to a podcast Streaming Nearly 7900 streaming stations in 2015 RADIO’S DIGITAL PLATFORMS ARE STEADILY GROWING Source: HD Radio stat from iBiquity/HD Radio, 2016; The Infinite Dial 2016 – Edison Research / Triton Digital; Inside Radio / M Street Corp., September 2015; No Canadian or Mexican stations are included Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

HISPANICS LISTEN TO ONLINE RADIO *Online Radio + listening to AM/FM radio stations online and/or listening to streamed audio content available only on the Internet Source: The Infinite Dial 2016 – Edison Research / Triton Digital; Base : Weekly Online Radio Listeners Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved 13 hours and 19 minutes Average time ‘Weekly Online Radio Listeners’ spend listening to Online Radio *

HISPANICS OUTPACE GENERAL MARKET IN ONLINE RADIO LISTENING Source: The Infinite Dial 2016 – Edison Research / Triton Digital Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved *Online Radio + listening to AM/FM radio stations online and/or listening to streamed audio content available only on the Internet

1000+ U.S. Hispanics Surveyed 81% Listen to digital audio* - radio via internet, streaming sites or other online media 77% Listen to online radio at least once per week 66% Listen to Internet radio while working or browsing 38% Listen to digital audio* between midday and afternoon HIGH DIGITAL AUDIO CONSUMPTION Source: The State of Digital Audio in the U.S. Hispanic Market 2016, based on an online survey of U.S. Spanish speaking respondents Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved *Digital Audio: traditional radio as well as through the internet and also in streaming services and other media

TUNED-IN ACROSS DEVICES Source: The State of Digital Audio in the U.S. Hispanic Market 2016, based on an online survey of U.S. Spanish speaking respondents Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved 50% listen via computer 46% listen via smartphone 27% listen via tablets

RADIO IN-CAR

RADIO IS THE TOP IN-CAR DEVICE Source: The Infinite Dial 2016 – Edison Research / Triton Digital Base: Hispanic Age 18+ and has driven/ridden in car last month Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

THE BATTLE FOR THE DASH All major auto brands offered factory-installed HD Radio Technology as of Source: iBiquity Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

RADIO REACHES YOUR TARGET

REACHING HISPANIC CONSUMERS 94 % A18+ Hispanic households who plan to buy/lease van/minivan/pickup truck within next year A18+ Hispanic households that use mobile and online banking 93 % A18+ Hispanic households used insurance agent at local office past year A18+ Hispanic households who replaced roof/major roof repair past year 92 % A18+ Hispanic households who shopped any carpet/ furniture/ mattress store past year A18+ Hispanic households who ate out at any steakhouse restaurant past month Source: Scarborough USA Release 2 Total (August October 2015) Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

radio REACHING HISPANIC VOTERS Every week, radio reaches: 92% of Hispanic adults who are registered to vote in their district of residence 92% of Hispanic adults who sometimes vote in local elections 91% of Hispanic adults who always vote in presidential elections 91% of Hispanic adults who always vote in statewide elections Source: Scarborough USA Release 2 Total (August October 2015) Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved

RADIO DELIVERS RESULTS

+43% Department Stores +49% Home Improvement Stores +9% Mass Merchandisers +23% QSRs HISPANIC RADIO ADDED TO A PLAN INCREASES SALES % Increase in Total Spend by Radio Exposed Hispanics 18+ Source: The Nielsen Company. The Sales Impact of Radio Study comparing 3 months of sales vs prior 3 months

DEPARTMENT STORES % Change TOTAL SPEND HISPANIC RADIO RACKS UP RETURN ON AD SPEND FOR RETAILERS Hispanics who were exposed to the radio campaign increased their total spend in department stores by 4x more than total market radio-exposed respondents 2015 Nielsen Department Store Study Q Four brands - Compared to same time prior year

Hispanic radio dollar share point gains by advertiser Nielsen Catalina did studies of 3 different radio campaigns that involved 2 soft drinks and a snack item. Not only did Hispanic radio lead to increased sales and shares, it bested Total Market performance by an average of 80%. HISPANIC CONSUMERS SHOW HIGHER RESPONSE TO CAMPAIGN EXPOSURE Source: Nielsen Catalina Solutions Studies of 10 radio ad campaigns, March 26, 2014 Index of Hispanic to Total Market Results

In the past year: 69% purchased at least 1 product advertised in online radio 44% purchased 2-5 products advertised in online radio ACROSS PLATFORMS RADIO DRIVES SALES Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved Source: The State of Digital Audio in the U.S. Hispanic Market 2016, based on an online survey of U.S. Spanish speaking respondents

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. Presentation courtesy of the Radio Advertising Bureau, 2016 – All Rights Reserved