(Between March ‘14 & March ’16) People Aren’t Leaving TV Content, They Just Sometimes View It Through Alternative Streaming Options An estimated 74% of the overall two year decrease in total time spent with television can be “found” through increases in TV-network content viewership on other sources such as “TV Everywhere” apps and major SVOD services Estimated Balance of TV “Time Spent” Decrease Vs. Streaming Increases TV-Network Content Only (Between March ‘14 & March ’16) An estimated 74% of the TV “time spent” decrease went to viewing of TV content outside of linear TV (linear + “TV Everywhere”) Netflix: 43% Hulu: 12% Amazon: 6% Source: VAB analysis based on a mix of several sources including SVOD services’ periodic announcements of “time spent” estimates when available, comScore mediametrix trend data, monthly “time spent” and “streaming services usages” statistics from GfK Comparing Streaming Services study US 2014 & 2016, and data from SNL Kagan Fall 2015 Consumer Insights U.S. survey which aided in the calculation of TV-network content “time split” estimates for each SVOD service. 1

The Ability To Stream TV Programming “On Demand” Does Help Drive Linear Ratings Video streaming allows people not only to play “catch up” with their favorite shows but also discover new ones. The below analysis shows the ratings bump that 10 “streaming-friendly” TV programs received on average for their first episode last season compared to their last episode in the prior season. +18% 2 Source: VAB analysis of Nielsen NPower, Program Report, Live+7, P2+ data covering appropriate episode premiere dates between 2014 – 2016. Average P2+ audience is based on the 10 program average for their respective episodes. Only premieres were included in average.