1. Country Radio Seminar Nashville, Tennessee February 14, 2006 Prepared by: FMR Associates, Inc. Tucson, Arizona FMRassociates.com National Country Perceptual Trends (Albright & OMalley Client Seminar)

2. Bruce Fohr President, FMR Associates Tucson, AZ (established: 1981) 2 Researching Country Radio for more than 25 years, including hundreds of studies Developed first handheld electronic device for radio in 1983 (EARS ® System). Conducts Perceptual Telephone Studies, EARS ® Library Music Tests, and Callout for dozens of Country stations in large markets (Phoenix, Dallas, Atlanta, San Diego, Denver); medium markets (Norfolk, Ft. Wayne, Reno); and small markets (South Bend, Topeka and York, PA).

3. FMR has worked with more than 400 radio stations in the U.S., Canada, Australia, Europe, in virtually every format, including non-commercial stations, Spanish Radio, Urban, public and commercial radio networks, as well as other media including newspapers, magazines, cable and broadcast television. National Country Trends based on averages from more than 10 research projects over the past two years. Comparative format trends over past five years plus. 3

4. National Country Perceptual Trends What Do Country Listeners Like? Why Do P-1s Prefer Country Stations? How Loyal are Country Fans? How Tolerant are Country Fans of Commercials? Why are Country Listeners Tuning In More? Why are Country Listeners Tuning In Less? How to Best Reach Country Fans? How to Engage Country Fans? 4

5. 5 What Do Country Listeners Like? Net High Appeal 41% 37% 36% Curr/Recurr - Mainstream Stars 80s 90s

6. 6 Net High Appeal 35% 34% 31% Curr/Recurr - New M/S Curr/Recurr - Bar Night Boom

7. 7 Country Music Cluster Correlation Matrix Currents &Currents & Recurrents/Currents &Recurrents/ MainstreamRecurrents/New SuperstarsBar NightMainstream90sBoom80s Mainstream Superstars1.00.73.67.66.59.40 Bar Night.731.00.64.64.61.44 New Mainstream.67.641.00.62.65.46 90s.66.64.621.00.71.62 Boom.59.61.65.711.00.65 80s.40.44.46.62.651.00 What Goes With What? Answer: A lot goes together, 80s not as much. Clearly less fit with Current/Recurrent. Key:.50 = Significant;.60 = High;.70 = Very High

8. 8 Why Do Country P-1s Prefer Country Stations? Country fans associate the following attributes with their favorite station:

9. 9 How Loyal Are Country Fans? (I could switch from my favorite station...)

10. Why Are Country Fans More Loyal? Perceived exclusivity Consistency and longevity (in format) Personality appeals Other non-music attributes Consistency of programming (music especially)

11. 11 Why are Country listeners tuning in more?

12. 12 Why are Country listeners tuning in less?

13. 13 How Tolerant Are Country Fans of Commercials? (I switch from my favorite station at the start of...)

14. 14 How Best Reach Country Fans? (Advertising Leadership is based on the recall of...)

15. 15 How to Engage Country Fans? (Pre-disposition to Radio Contests)

16. What Else is Important to Country Fans? Websites (Clearly worth developing and offering streaming) Lifestyle compatibility (in everything the station does) Is Country about to be Jacked? Not by the music Only by over-reacting (dont play junk) Contests/Off-air activities might get attention of some Need to keep focus

17. How to Find Out More? Visit the FMR Associates website www.FMRassociates.com or contact Bruce Fohr, President: Bruce@FMRassociates.com (520) 886-5548 17