1. Radio. It’s On. For African-Americans Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

2. A mass medium delivering audio content to passionate and loyal listeners across multiple platforms RADIO Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

3. RADIO TODAY RADIO LiveLocalMobilePersonalSocialInteractiveExperiential Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

4. 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, 2015 – All Rights Reserved

7. CONSISTENT REACH OF AFRICAN AMERICANS Source: Nielsen Audio, RADAR® 123-127, December 2014-March 2014, June 2015 – September 2015, December 2015 (Monday-Sunday 24-Hour Cume Estimates, All Radio) A MEDIUM FOR ALL SEASONS Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

8. HIGHEST REACH AMONG ALL MEDIA OPTIONS Black/ African-American Adults 18+ Source: Scarborough USA+, 2014 Release 2 Black/African-American 18+ (August 2013 – September 2014) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

9. HIGHEST REACH AMONG ALL MEDIA OPTIONS Source: Scarborough USA+, 2014 Release 2 Black/African Americans 18-34 (August 2013 – September 2014) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved Black/ African-American Adults 18-34

10. HIGHEST REACH AMONG ALL MEDIA OPTIONS Source: Scarborough USA+, 2014 Release 2 Black/African-American 25-54 (August 2013 – September 2014) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved Black/ African-American Adults 18-34

13. RADIO PEAKS FOR AFRICAN-AMERICANS DURING THE WORKDAY How to read: Each day from 3-7p, radio reaches 81% of African-Americans 25-54. Source: Nielsen Audio, RADAR 127, December 2015 (African Americans 18+, 18-34, 25-54 and 35-64, Monday-Sunday 24-Hour Weekly Cume Estimates, All Radio) 6-10A 10A-3P3-7P 7P-12M 6-10A 10A-3P3-7P 7P-12M 6-10A 10A-3P3-7P 7P-12M 6-10A 10A-3P3-7P 7P-12M Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

14. REACH AND TIME SPENT ACROSS AFRICAN AMERICAN LISTENERS Weekly Reach: 90.6% Weekly TSL: 13hrs:45min Best Daypart: 10a-3p Reach: 77.6% African Americans 12+ Weekly Reach: 91.2% Weekly TSL: 14hrs:23min Best Daypart: 10a-3p Reach: 79.7% African Americans 18+ Weekly Reach: 89.7% Weekly TSL: 11hrs:38min Best Daypart: 3-7p Reach: 75.6% African Americans 18-34 Weekly Reach: 92.9% Weekly TSL: 14hrs:18min Best Daypart: 10a-3p,3p-7p Reach: 80.9% African Americans 25-54 Weekly Reach: 93.3% Weekly TSL: 15hrs:57min Best Daypart: 10a-3p Reach: 83.2% African Americans 35-64 Source: Nielsen Audio RADAR 127, December 2015 (Monday-Sunday 24-Hour TSL and Cume Estimates; Monday-Sunday Daypart Cume Estimates) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

15. Source: Nielsen Comparable Metrics Report Q3 2015 African American Adults 18+ 46.4 HRS Traditional Television 13.3 HRS AM/FM Radio 6.7 HRS Using the Internet on Computer 9.8 HRS Using any App/Web on Smartphone GREATER HOURLY USE VS. DIGITAL DEVICES African American A18+ WEEKLY HOURS OF USAGE Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved 2.8 HRS Using any App/Web on Tablet

16. Source: Nielsen Comparable Metrics Report Q3 2015 Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved HRS:MIN TIME SPENT WITH RADIO VS. OTHER DEVICES HIGH AMONGST AFRICAN AMERICANS

17. RADIO USED DAILY MORE THAN TV Source: Nielsen Comparable Metrics Report Q3 2015 African American Adults 18+ Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

19. SOURCES MOST USED BY AFRICAN AMERICANS 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 Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

20. 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, 2015 – All Rights Reserved

21. FM-ENABLED SMARTPHONES Source: NextRadio + TagStation Insights – For additional updates : http://tagstation.com/news/insights/http://tagstation.com/news/insights/ Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved To date: Over 5.3 million app downloads Over 12,600 FM radio stations tuned to from the app Over 11.3.6 million hours of listening through NextRadio And 4/5 in Google Play Store user rating

22. “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 : http://tagstation.com/news/insights/http://tagstation.com/news/insights/ Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

23. 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, 2015 – All Rights Reserved

24. 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, 2015 – All Rights Reserved

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

27. THE BATTLE FOR THE DASH All major auto brands offered factory-installed HD Radio Technology as of 2014 2010 2011 2012 2013 2014 185+ 35 76 166 33 67 154 28 61 109 21 36 86 16 Source: iBiquity Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

28. PODCAST CONSUMPTION IS HIGHER AMONG AFRICAN-AMERICANS VS. GENERAL MARKET % ever listened to a podcast% listened to a podcast in the last month Source: The Infinite Dial 2015 – Edison Research / Triton Digital Base: U.S. Population 12+ Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

31. REACHING AFRICAN AMERICAN CONSUMERS 94 % African American households who used a financial planner in the past year African American households who shopped at a jewelry store in the past three months 93 % African American households who plan to buy a luxury vehicle within the year African American households who bought most groceries at online grocery store 92 % African American households who home improvements in the past year African American households who use online billpay Source: Scarborough USA+ 2014 Release 2 (February -September 2014) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

37. STRONG AND DISTINCT RADIO ATTITUDES 93% Advertising on radio provides useful info about new products and services 92% Advertising on radio provides useful information about bargains 92% Advertising on radio provides meaningful information about product use of other consumers 92% Advertising on radio advertising is amusing Agree that … 89% Advertising on radio is repeated too often 90% Advertising on radio has no credibility 90% All ads on radio are alike 91% Advertising on radio appears at inconvenient times Disagree that … Source: Scarborough USA+ 2013 Release 2 (August 2012-September 2013) Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

38. Sources: 2011 Arbitron, Media Monitors, and Coleman Insights – “What Happens When The Spots Come On” NO COMMERCIAL SKIPPING High audience levels among Black Listeners and Urban Music stations Delivers 94% of lead-in audience and 92% on Urban music stations Presentation courtesy of the Radio Advertising Bureau, 2015 – All Rights Reserved

39. 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, 2015 – All Rights Reserved