Radio. It’s On.

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 On Line 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.

Over 242 Million P12+ tune in to radio every week Source: Nielsen Audio, RADAR 119, December 2013 (Persons 12+, Monday-Sunday 24-Hour Cume Estimates)

92% of Americans 12+ every week Source: Nielsen Audio, RADAR 119, December 2013 (Persons 12+, Monday-Sunday 24-Hour Weekly Cume Estimates) RADIO’S REACH

HIGHER REACH VS. OTHER MEDIA OPTIONS Source: Scarborough USA+, Release USA Adults (Sample Size: 28,781) Adults 18-34

Hours:Min CONSISTENT TIME SPENT WITH RADIO Even Among Heavy Users of Other Media Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research

AM/FM Radio Share of Daily Minutes Adults Note: AM/FM Radio includes HD and radio station streaming; Mobile Internet excludes , but includes internet usage via mobile, tablet, and eReader; Newspaper, Magazine and Book include digital readership via print, PC, mobile, tablet, and eReader; Music Streaming Service (e.g.iHeartRadio, Pandora, Spotify, etc) includes via PC, mobile phone, tablet and eReader. Sources: 2013 USA TouchPoints MORE TIME SPENT THAN EIGHT OTHER AVAILABLE MEDIA 18%

Read: I would be very disappointed if… LISTENERS CHOOSE RADIO OVER FACEBOOK Source: Alan Burns/Triton Digital “The Future of Radio” September 2012 National Consumer Database; 25,000,000 Panelists; August & September 2012; All Ages, Genders and Format Fans; Total Polled = 41,252; Roughly in Line with 2010 Census; Heavily Caucasian

THE SOURCE FOR MUSIC DISCOVERY Base: Those saying it is “Very Important” or “Somewhat Important” to Learn About and Keep Up-To-Date With New Music % Who Ever Use Each Source to Learn About and Keep Up-To-Date With New Music Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research

RADIO IS THE TOP IN-CAR DEVICE 84% of drivers cite radio as their primary in-car entertainment device Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research

M 18+W 18+ Nearly 15 1/2 Hours Per Week Over 13 1/2 Hours Per Week CONSISTENT AUDIENCE TUNE-IN Source: Nielsen Audio, RADAR 119, December 2013, (Monday-Sunday 24-Hour Weekly TSL Estimates)

15.0 Hours 15.0 Hours 14.7 Hours TUNE-IN TIME HIGHER AMONG HISPANIC AND AFRICAN AMERICAN LISTENERS African American listeners and Hispanic listeners (versus General Market, P 25-54) Source: Nielsen Audio, RADAR 119, December 2013, (Monday-Sunday 24-Hour Weekly TSL Estimates)

TECHNOLOGY DELIVERS RADIO BEYOND THE DIAL Technology has expanded Radio’s delivery platforms to create an interactive, engaging and highly communicative environment

30 million Over the next 3 years phones will have an FM Chip FM-ENABLED SMARTPHONES

Streaming Nearly 6400 streaming stations in 2013 HD Radio More than 2200 stations broadcasting in HD Podcasts 32MM Americans have downloaded a podcast in the past month RADIO’S DIGITAL OFFERINGS ARE STEADILY INCREASING Source: Inside Radio / M Street Corp., 2013; No Canadian or Mexican stations are included (HD Radio stat from iBiquity/HD Digital Radio Alliance, 2013); The Infinite Dial 2013 – Nielsen Audio/Edison Media Research

Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research 120 Million P12+ have listened to online radio in the past month

AUDIO STREAMING MIRRORS THE WORK DAY Source: Local Streaming Station Audience, Nielsen Audio PPM, July 2013, Persons 18+ (40 stations from 24 metros) LISTENING PEAKS between 8AM – 5PM 8-9 AM 4-5 PM

82% 18% % of weekly Online Radio listeners who listen to Broadcast Radio (versus those who do not) ONLINE RADIO LISTENING COMPLEMENTS BROADCAST RADIO Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research

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) 21

On-demand content delivering sports, music, information and entertainment downloads whenever and wherever the listener wants it 44% of Smartphone users listen to online radio (18% listen daily) 55% of listeners said they listen to their favorite personalities on computers or mobile devices when away from a radio Tablet and Smartphone users over-index for weekly AM/FM radio listening Source: The Infinite Dial 2013 – Nielsen Audio/Edison Research; 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

Applications like Facebook and Twitter allow listeners to publish audio, receive song and station event updates Expanding the listener and station relationship 70% of people with favorite Radio personalities follow them Databases and outbound texting ability remain a source for targeted marketing by advertisers EXPANDING THE TWO-WAY DIALOGUE Source: USC, Annenberg School of Communications & Journalism, PSI Study Released June 2012, Woodley, P. and Movius, L

RADIO DOMINATES THE 9 TO 5 WORKDAY BROADCAST RADIO Source: GfK MRI – MediaDay Doublebase 2013 (Fieldwork /Doublebase Respondents) weighted to population. Base: Adults 25-54; Daypart: 9AM-5PM

REACHING LISTENERS OUTSIDE OF THEIR HOME Source: MBI USA TouchPoints Note: TV includes time-shifted viewing; Internet includes PC, mobile & tablet; Newspaper and Magazine includes digital readership.

WHILE THEY ARE LISTENING IN CAR Source: GfK survey done for the Consumer Electronics Association, 2013

AND THROUGHOUT THEIR BUSY DAY Source: USA TouchPoints Note: AM/FM Radio includes radio station streams % of AM/FM radio listeners engaged in given activities Persons 25-54

Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research CLOSEST TO THE HALF-HOUR BEFORE PURCHASE % who (item) just before arriving at store of last shopping visit

STRONGEST PRE-SHOPPING MEDIUM LEADING INTO 2PM PEAK SHOPPING HOUR Source: USA TouchPoints Note: TV includes time-shifted viewing and streaming; AM/FM Radio includes radio station streaming; Internet and Mobile Web/App exclude ; Print includes digital readership How to read: 33% of Adults who went shopping listened to AM/FM Radio in the 2 hours leading into that shopping trip A18-49

RADIO ADS DRIVE ACTION, BEHAVIOR AND RESPONSE Source: The Infinite Dial 2013 – Nielsen Audio, Edison Research Base: Visited a Supermarket, Department Store, Retail Shop or Restaurant in Past 24 Hours

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

Drives ROI Target’s Healthcare campaign targeting empty nesters resulted in: 6% lift in prescription purchase intent 12% lift in over the counter medication purchase intent 28% lift in brand advocacy 6% lift in brand affinity Drives Traffic Cracker Barrel used an on-air endorsement program to promote seasonal menu items and the launch of new salads. Campaign delivered: Increased store traffic Sales exceeding client expectations Drives Interaction Six Flags used an integrated radio campaign to support their annual “Fright Fest” Halloween-themed event and experienced: Record attendance and revenue for the event Record season pass sales for that time of year Significant increases in both web traffic and social media buzz RADIO IMPROVES MARKETING OBJECTIVES Visit RAB.com for additional case studies

REACH INCREASES WHEN RADIO IS ADDED TO A TV CAMPAIGN Source: MBI TouchpointsTM Campaign Average Weekly Reach Financial Services 1 Financial Services 2 Auto 2 Home Improvement QSR 2QSR 1 Auto 1

MORE RADIO BOOSTS CAMPAIGN ROI Reallocation of existing ad budgets to give Radio 20% share of spend increases overall campaign ROI by 8X Source: Radio Advertising Bureau UK – 2013

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 A personal, parasocial interaction with their favorite radio personality 82% Follow their favorite personality/radio station on social media 70% Listen longer to the radio stations because their favorite personality is on the air 79% Talk to their friend about their favorite personality or program content 72% Consider radio personalities to be a good or best friend or companion * 70% Source: USC, Annenberg School for Communication & Journalism, PSI Study released June 2012, Woodley, P. and Movius, L. People With a Favorite Radio Personality in Los Angeles; *Alan Burns “Here She Comes” 2012 online survey of 2,010 women in May 2012

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

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 On Line 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.