A Small Fraction Of Streamers Account For The Large Majority Of Overall Streaming Activity 20% of the streaming population account for 87% of total video streaming time 1 Source: Nielsen Total Audience Report, Q1’16; based on cross-platform homes ranked by in-home streaming behavior. 1/1/16-3/31/16 via Nielsen NPOWER/Cross-Platform Homes Panel for P2+. Streaming based on home PC only. Chart based on “average daily minutes”

The Concentration Of Usage In The Top Quintile (20%) Is Much Heavier For Streaming Than It Is For Other Media 2 Source: Nielsen Total Audience Report, Q1’16. TV-connected devices include DVD, video game & multimedia devices while “Internet on a PC” and “Stream on a PC” reflects in-home usage.

Total Streaming Is Even More Concentrated When Factored Against The Overall TV Population 6% of The U.S. TV population account for 87% of total video streaming time 3 Source: VAB analysis of overall U.S. TV population data coupled with Nielsen Total Audience Report, Q1’16 data on cross-platform homes ranked by in-home streaming behavior. 1/1/16-3/31/16 via Nielsen NPOWER/Cross-Platform Homes Panel for P2+. Streaming based on home PC only. Chart based on “average daily minutes”