Digital Services and Distribution Landscape Content Business Models Distribution Devices Online Services Digital Sell Thru (DST) Owned Partners Video on Demand (IPVOD) Subscription Video on Demand (SVOD) Mobile Carriers Partners Ad Supported Channels

Build from Existing Assets and Produce Original Content Recent releases & library assets Film / TV Professional Short Form Original SPT content and 3rd party production Quality UGV with proven audience appeal Prosumer Unfiltered content that leverages viral nature of UGV UGV Licensed and original titles Mobile Games

Digital Sell-Through (DST) Partners User Value Proposition User purchases individual titles, owns the content, and can watch an unlimited number of times on any “approved” device FY07 Delivery Downloaded through 3rd party sites with full DRM FY08 Content TV and film assets (both library and recent release titles) Pricing Retail prices for theatrical product generally range from $9.99 for deep library to $19.99 for new releases

User Value Proposition Video on Demand Partners User Value Proposition Users “rent” individual titles with defined usage rules (e.g., view within 30 days of download, complete within 24 hours of first viewing) FY07 Delivery Content downloaded from 3rd party sites FY08 Content Primarily film assets Pricing “Rental” fees range from $1.99 to $3.99 for most titles

Subscription VOD (SVOD) Partners User Value Proposition Users have access to a wide variety of tiles on an “all you can eat” basis to be watched on demand during limited windows FY07 Delivery Content is either streamed or downloaded through 3rd party sites FY08 Content Primarily film assets Pricing Users pay a monthly fee or subscription is included as part of a package (e.g., Tier 1 service on mobile carriers)

User Value Proposition Ad Supported Channels Partners User Value Proposition Users watch genre-based, programmed channels for free (analogous to broadcast / cable TV) FY07 Branded channels are owned and operated by SPT and streamed from 3rd party and owned sites Delivery FY08 Channels include library (TV and film) assets complimented with original programming and interactive elements Content Channels are ad supported (e.g. banners, video interstitials) with a revenue share back to channel partner Pricing

Distribution to Multiple Devices / Across Platforms Delivery Examples IPTV Downloads Streaming video Embedded content Memory cards Crackle Service and IP promotional channels on Bravia ‘Funny Bone’ channel on AOL Memory card bundles with games and films TV library on iTunes Crackle ‘Off the Hook’ channel on PSP Downloads Downloads Streaming Video Embedded Content ‘Hollywood Hits’ channel on Sprint Mobile games on multiple carriers Downloads Embedded Content Licensed content for digital delivery on PS3

Case Study: Gaia Online An online virtual “hangout” with a targeted demographic 65% of demo are 18 years old or younger 85% of audience is domestic Gaia has built an attractive and passionate community 7MM register users and ~2MM monthly unique users Average 2-3 hours per day on the site (more than MySpace or Second Life) An early stage company with significant upside potential Previous focus on building audience, now beginning to monetize user base ($1.8MM in Q1 ‘07) Raised ~$21MM to date; last round at $120MM valuation Extremely interested in Sony as a strategic partner An attractive site to build brands and sell SPE products with multiple revenue opportunities Fees from films and TV product aired in virtual theaters Ad inventory from branded digital channels (e.g. Minisodes) Sale of virtual SPE products (and possibly digital goods) Promote properties through immersive experience Source: Gaia mgmt (traffic and demographics)

Gaia Revenue and Marketing Opportunities Virtual Theaters Virtual Goods Other Stream SPE films and digital channels in virtual theaters where users interact with each other and their environment Titles/channels would air in exclusive branded theaters Gaia charges a per-ticket or rental fee and shares “box office” with SPE for current and library titles SPTAS sells video interstitial and display inventory for digital channels Sell SPE branded virtual goods New revenue stream for SPE with high margins Branding and promotional opportunity providing a new consumer touch point Ability to tie virtual goods to movie and product launches Actual goods are TBD but conceptually could include Boondocks t-shirts, Spiderman masks, etc. Merchandising Sell SPE digital goods, including games, ring tones, and wallpaper Sell SPE branded hard goods, including movie posters, DVDs, etc Marketing / Promotions Market SPE titles to a highly targeted and valuable demographic (14-24 year olds)

Gaia Cinemas

Case Study: Minisode Network Currently Playing Launched with significant press coverage in June 90 day exclusive first run on MySpace Over 2 million views to-date +300 episodes now playing with additional 300 coming soon In process of securing wider distribution (Crackle, AOL, Google) and larger library of content – including 3rd party Coming Soon