Print newsbrands should form at least 10% of the budget for automotive brands Recommended % spend on print newsbrands to optimise total campaign ROI 18% 17% 17% 15% 15% 14% 12% 12% 11% 11% 11% 11% 11% 10% 10% 10% In finance the average spend is around £20m The range from our tertile analysis was 3-10%. Here we can see that the sweet spot for the average spender is at 11%. Average spend in 2015 was much lower at around 8% 2 4 6 8 10 12 14 16 18 20 25 30 35 40 45 50 Annual spend £m Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015 – excludes outliers and incomplete models

Print newsbrands make TV spend work twice as hard Combined services £6.49 £12.22 £5.72 £10.82 Print newsbrands make TV spend work twice as hard TV revenue ROI Low 2-10% Medium 10-12% High 12-18% Print newsbrand % of total campaign spend in combined services No print newsbrand spend Using the same format, comparing groups by level of spend in print newsbrands we looked at the impact on the average TV revenue ROI. For this analysis we looked at the wider combined services category to get a bigger sample of models. The results showed that including print newsbrands in the mix make TV spend work twice as hard, doubling the average revenue per £1 spent on TV. Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015 – excludes outliers and incomplete models. Combined services includes: Finance, Retail, Telecoms, Travel & Leisure, Media, Government/Social/Political, Other Services(Online & Offline)

Print newsbrands boost overall campaign ROI by up to 5.7 times Finance Automotive Finance 2015 spend levels 7.9% 2015 spend levels 7.9% £1.49 £8.47 £6.76 £3.91 Total campaign revenue ROI Low 2-5% Medium 7-22% High 22-37% Print newsbrand % of total campaign spend No print newsbrand spend Print newsbrands boost overall campaign ROI by up to 5.7 times Financial Services campaigns boost overall campaign ROI by up to 5.7 times when print newsbrand spend is between 7% and 22% Financial services – total comms revenue ROI vs. print newsbrand % of spend Source: Results Vaults 2011 to 2015 – excludes outliers and incomplete models Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015 – excludes outliers and incomplete models

Recommended spend in print newsbrands would be double current FMCG level of 5% for food and drink brands 20% 16% 13% 12% 11% 10% 1 2 3 4 5 6 7 8 9 10 Annual spend £m Recommended print newsbrand % for optimal campaign ROI

Retail £9.08 £25.18 £18.82 £18.25 Total campaign revenue ROI Low 2-20% Medium 20-31% High 31-100% Print newsbrand % of total campaign spend in retail No print newsbrand spend 2015 spend levels 16.5% In retail the sweet spot for print newsbrands lies between 20% and 31% of total campaign spend In Retail: Print Newsbrands boost total campaign ROI by 2.8 times, with the optimum return when they are 20% to 31% of the mix. In all cases it is always better to have print newsbrands in the mix. Source: Brand Science Results Vaults 2011 to 2015 – excludes outliers and incomplete models Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015 – excludes outliers and incomplete models

Travel & Transport 2015 spend levels 10.8% Travel/Transport campaigns are more effective when print newsbrands are included in the mix Outlier Removal - News spend over 0.6k removed, multiple models without revenue/ROI removed from dataset