13. Video Ad CPM Display Ad CPM $0 $25 $50 Source: Bain/IAB Benchmarking Study 2008 Average CPM Marketers love video! Video commands higher CPMs $43 $12

14. 030 Ad Revenue Viewing Time 15 Pre-Roll does not scale with increased consumption

15. 030 Ad Revenue Viewing Time 15 2X more ad revenue per clip

16. U.S. Internet Video 2008-2010 Forecast and Analysis: Revenue Boom or Bust? Or Something In Between? (IDC #214948, Nov 2008) Revenues will be driven by content that demands HD quality U.S. Internet Video Revenues by Content Type ($M) $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 20082009201020112012 Long Form Video Content Music Videos and Movie Trailers UGC News Sports Other

29. Player creation demo

37. © 2009 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.