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.

244 Million P12+ tune in to radio every week Source: Nielsen Audio, RADAR 121, June 2014 (Persons 12+, Monday-Sunday 24-Hour Cume Estimates)

92% of Americans 12+ every week Source: Nielsen Audio, RADAR 121, June 2014 (Persons 12+, Monday-Sunday 24-Hour Weekly Cume Estimates) RADIO’S REACH

HIGHER REACH VS. OTHER MEDIA OPTIONS Source: Scarborough USA+, Release USA Adults Adults 18-34

HIGHER REACH VS. OTHER MEDIA OPTIONS Source: Scarborough USA+, Release USA Adults Adults 25-54

HIGHER REACH VS. OTHER MEDIA OPTIONS Source: Scarborough USA+, Release USA Adults 18+ Adults 18+

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

MORE TIME SPENT THAN EIGHT OTHER AVAILABLE MEDIA

LISTENERS CHOOSE RADIO OVER FACEBOOK

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 (47% of total P12+ population) % Who Ever Use Each Source to Learn About and Keep Up-To-Date With New Music Source: The Infinite Dial 2014 – Edison Research / Triton Digital

THE GREATEST “SHARE OF EAR”

RADIO IS THE TOP IN-CAR DEVICE 86% of drivers cite radio as their primary in-car entertainment device Source: The Infinite Dial 2014 – Edison Research / Triton Digital

AND THE MOST USED IN-CAR DEVICE % Using “Almost All of the Times” or “Most of the Times” in the Car Base: Driven / Ridden in Car in Last Month, Age 18+ Source: The Infinite Dial 2014 – Edison Research / Triton Digital

M 18+W 18+ Over 15 1/4 Hours Per Week Nearly 13 1/4 Hours Per Week CONSISTENT AUDIENCE TUNE-IN Source: Nielsen Audio, RADAR 121, June 2014, (Monday-Sunday 24-Hour Weekly TSL Estimates)

14.8 Hours 14.7 Hours 14.4 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 121, June 2014, (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 To date, over: 500,000 app downloads 9,300 FM radio stations tuned to from the app 550,000 hours of listening through NextRadio Source: NextRadio + TagStation Insights

22 TRENDS Source: NextRadio + TagStation Insights

Streaming Over 7200 streaming stations in 2014 Podcasts 39MM Americans have downloaded a podcast in the past month HD Radio Over 19 Million HD radio receivers are in the marketplace RADIO’S DIGITAL OFFERINGS ARE STEADILY INCREASING Source: Inside Radio / M Street Corp., 2014; No Canadian or Mexican stations are included (HD Radio stat from iBiquity/HD Radio Alliance, 2014); The Infinite Dial 2014 – Edison Research / Triton Digital

THE BATTLE FOR THE DASH All major auto brands will offer factory-installed HD Radio Technology during calendar year Source: iBiquity

Source: The Infinite Dial 2014 – Edison Research / Triton Digital 124 Million P12+ have listened to online radio in the past month (am/fm streams or internet only streams)

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) 27

On-demand content delivering sports, music, information and entertainment downloads whenever and wherever the listener wants it 66% of Smartphone users listen to online radio every week 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 2014 – Edison Research / Triton Digital; 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 How to read: 48% of Adults tune in to radio during the 9-5 workday.

REACHING LISTENERS OUTSIDE OF THEIR HOME

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

AND THROUGHOUT THEIR BUSY DAY

CLOSEST TO THE POINT OF PURCHASE

STRONGEST PRE-SHOPPING MEDIUM LEADING INTO 2PM PEAK SHOPPING HOUR

INLFUENCING WHERE TO SHOP FOR CARS

INFLUENCING HOME IMPROVEMENT PROJECTS

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

RADIO SPARKS BRAND CONVERSATION

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

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

AN EMOTIVE MEDIUM

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

RADIO WORKS FOR THE CONSUMER AND THE ADVERTISER

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.