Top 20 Ranker. September 2018

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Top 20 Ranker September 2018 The Top 20 Ranker is a listing of the top performing digital audio publishers and networks measured by the MRC Accredited Webcast Metrics platform. It includes U.S. and Global listening, as well as insights into listening trends. *Some of the larger changes shown month-to-month may represent typical seasonality.

September 2018 Digital Audio Insights & Trends The Impact of the Kavanaugh Hearing on News/Talk Streaming News/Talk streaming saw a 36% increase on the day of the Kavanaugh hearing (Thursday, September 27, 2018) as compared to the average number of active sessions during the four weeks prior. 150% 140% 36.25% Average Active Sessions % Increase 130% 120% 110% 100% 90% 80% 70% 60% 50% Mon, 9/24/2018 Tues, 9/25/2018 Weds, 9/26/2018 Thurs, 9/27/2018 Fri, 9/28/2018 Testimony Week 4 Week Average Day of Week Source: Webcast Metrics Please direct all insights inquiries to Ranker@TritonDigital.com.

September 2018 Digital Audio Insights & Trends Total Weekday Listening Remains Steady at 5.96 Million in the U.S. All measured clients within the U.S. reported a total of 5,969,435 Average Active Sessions (AAS) during the Monday through Friday 6:00am to 8:00pm daypart, and 4,954,527 AAS during the Monday through Sunday 6:00AM to Midnight daypart. Weekday Listening Shows Highest Peak at 2:00pm Midweek listening shows peak AAS occurring at 2pm in September of 2018. Over the weekend, listening shows peak AAS at 12pm, before gradually declining throughout the afternoon. 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 Q1'09 Q4'09 Q1'10 Q4'10 Q1'11 Q4'11 Q1'12 Q4'12 Q1'13 Q4'13 Q1'14 Q4'14 Q1'15 Q4'15 Q1'16 Q4'16 Q1'17 Q4'17 Mon-Fri Sat-Sun Q1'18 Q3'18 2,000,000 1,000,000 0 12:00 AM 1:00 AM 2:00 AM 3:00 AM 4:00 AM 5:00 AM 6:00 AM 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM 9:00 PM 10:00 PM 11:00 PM Please direct all insights inquiries to Ranker@TritonDigital.com.

September 2018 Digital Audio Insights & Trends Sports Shows Largest Increase at 15.34% When compared to August 2018, the Sports format showed the largest increase at 15.34% in AAS during the Monday through Friday, 6am-7pm daypart. 15.34% 7.51% 6.69% 5.64% -0.43% -0.66% -1.49% -2.32% -2.59% -5.91% Sports News/Talk Talk Classical Classic Rock Urban Contemporary Top 40 (CHR) Country Adult Contemporary Modern Adult Contemp Please direct all insights inquiries to Ranker@TritonDigital.com.

September 2018 Digital Audio Insights & Trends Detroit Market Shows Largest Increase at 6.38% Looking at the Top 15 markets as compared to August 2018, the Detroit market showed the largest listening increase at 6.38% in AAS during the Monday through Friday 6am to 7pm daypart, followed by San Francisco. 6.38% 3.42% 2.95% 2.86% 2.76% 2.56% 2.53% 2.49% 2.38% 2.27% 2.23% 1.51% 0.33% -0.05% -1.06% Detroit San Francisco Los Angeles Houston-Galveston Philadelphia Dallas-Ft. Worth New York Boston Chicago Washington DC Phoenix Miami-Ft. Lauderdale-Hollywood Denver-Boulder Seattle-Tacoma Atlanta Please direct all insights inquiries to Ranker@TritonDigital.com.

September 2018 Digital Audio Top 20 Ranker Triton Digital has released its monthly digital audio Top 20 Ranker for September 2018. The Ranker is a listing of the top-performing digital audio stations and networks measured by the Webcast Metrics audience measurement platform. All metrics within the Webcast Metrics rankers include both ad supported and non-ad supported listening, globally, and in the US. Webcast Metrics uses a proprietary platform to track audience data and convert it to audience metrics that can be easily understood by stations, publishers and advertisers. Audience rankings are done on the basis of Average Active Sessions, with "Session Starts" and Average Time Spent Listening also displayed. Average Active Sessions (AAS) is defined as Total Listening Hours (TLH) divided by hours in the reported time period. TLH is defined as the total number of hours that the station/publisher has streamed during sessions with duration of at least one minute in total within the reported time period. Session Starts (SS) is defined as the number of different requests for streams (i.e., stream requests) with a duration of at least one minute in total within the reported time period. Average Time Spent Listening (ATSL) is defined as the average number of hours for each session with a duration of at least one minute in total within the reported time period. Calculated as total time spent listening divided by active sessions. Rankers are divided into U.S. and International. The U.S. Ranker quantifies listening done inside the U.S. based on log-based information provided by the station, this report is not MRC accredited. The International Ranker merely verifies the quantity of streams without qualifying where they are being consumed, and is MRC accredited. For more information on measurement collection and limitations, please view the Triton Description of Methodology available at: www.tritondigital.com/media/default/rankers/triton-digital-methodology.pdf If you have any further questions, please contact: Ranker@TritonDigital.com The September rankings can be found below.

SEPTEMBER GLOBAL RANKER (based on AAS) DAYPART 6:00am to 8:00pm, Monday through Friday Station Average Active Sessions Session Starts Average Time Spent Listening iheartmedia Network 1 1,125,452 415,887,974 0.74 1 iheartradio 402,465 155,902,331 0.71 2 Prisa Radio 124,395 40,915,513 0.83 3 NPR Member Stations 2 84,004 27,427,122 0.83 4 RADIO.COM 3 73,635 32,540,212 0.62 5 Cumulus Streaming Network 68,954 24,918,153 0.76 6 AccuRadio 34,304 3,361,199 2.68 7 Bell Media 29,970 6,324,821 1.29 8 Sky Radio B.V. 27,863 4,128,354 1.69 9 Beasley Broadcasting Corporate 25,968 9,563,768 0.75 10 Univision 22,887 11,399,955 0.55 11 Karnaval.com 21,202 9,708,990 0.59 12 Grupo Radio Centro 20,410 7,524,414 0.74 13 EMF Corporate 20,393 4,626,809 1.20 14 ESPN Radio Corporate 19,277 8,791,210 0.60 15 Grupo Renascenca 18,451 2,643,150 1.93 16 Hubbard Broadcasting 17,537 4,527,441 1.05 17 Grupo Acir 16,528 4,392,916 1.03 18 New York Public Radio 14,849 4,543,491 0.89 19 Salem Communications 14,334 5,616,062 0.69 20 CRP Radios 13,090 4,268,754 0.84 Average Active Sessions (AAS): Total Listening Hours (TLH) divided by hours in the reported time period. TLH is defined as the total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total within the reported time period. Session Starts (SS): The number of different requests for streams (i.e., stream requests) with a duration of at least one minute in total within the reported time period. Average Time Spent Listening (ATSL): The average number of hours for each session with a duration of at least one minute in total within the reported time period. Calculated as total time spent listening divided by active sessions. Total Listening Hours (TLH): Total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total and any duration within the reported time period. Active Sessions (AS): Number of sessions that were active, with a duration of at least one minute in total and any duration within the reported time period. Note: Ranker data only includes clients that participate for the full month for which the ranker is being released. Reported data includes listening from both adsupported and/or ad-free services. 1 iheartmedia Network includes all iheartmedia owned streams and the streams related to network affiliations 2 Publisher experienced minor and varied data issues through the period 3 Entercom Communications Corp. s streams are now listed as RADIO.COM In accordance with the Media Rating Council s Invalid Traffic Guidelines, the Triton Streaming Audio Ranker discloses gross received traffic versus net measured traffic. This is represented in Total Listening Hours (TLH) and Active Sessions (AS). The difference between gross received traffic and net measured traffic represents traffic that is excluded from processing as part of the measurement process, as noted below: Gross Total Listening Hours: 326,025,518 Net Total Listening Hours: 315,507,864 Gross Active Sessions: 489,391,053 Net Active Sessions: 390,528,975 % Filtered Total Listening Hours: 96.77% % Filtered Active Sessions 79.80%

SEPTEMBER US RANKER (based on AAS) DAYPART 6:00am to 8:00pm, Monday through Friday Station Average Active Sessions Session Starts Average Time Spent Listening iheartmedia Network 1 1,109,602 409,579,142 0.74 1 Spotify Corporate 2,707,189 1,765,807,622 0.42 2 Pandora Corporate 2,346,392 1,195,987,900 0.54 3 iheartradio 395,467 152,890,791 0.71 4 NPR Member Stations 2 77,269 25,180,215 0.83 5 RADIO.COM 3 73,420 32,462,137 0.62 6 Cumulus Streaming Network 67,250 24,357,608 0.75 7 Beasley Broadcasting Corporate 25,450 9,408,186 0.75 8 Univision 22,879 11,396,001 0.55 9 AccuRadio 19,700 1,835,512 2.87 10 EMF Corporate 19,128 4,220,987 1.23 11 ESPN Radio Corporate 18,610 8,474,357 0.60 12 Hubbard Broadcasting 17,427 4,470,775 1.06 13 Salem Communications 14,130 5,541,934 0.69 14 New York Public Radio 13,651 4,111,962 0.90 15 Urban One 11,729 4,587,896 0.70 16 Bonneville Corporate 10,410 3,806,506 0.75 17 Emmis Communications 8,811 3,584,030 0.67 18 Prisa Radio 6,975 3,643,671 0.64 19 Entravision Communications Corporation 5,870 2,798,103 0.58 20 Saga Communications 5,588 1,643,081 0.92 Average Active Sessions (AAS): Total Listening Hours (TLH) divided by hours in the reported time period. TLH is defined as the total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total within the reported time period. Session Starts (SS): The number of different requests for streams (i.e., stream requests) with a duration of at least one minute in total within the reported time period. Average Time Spent Listening (ATSL): The average number of hours for each session with a duration of at least one minute in total within the reported time period. Calculated as total time spent listening divided by active sessions. Total Listening Hours (TLH): Total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total and any duration within the reported time period. Active Sessions (AS): Number of sessions that were active, with a duration of at least one minute in total and any duration within the reported time period. Note: Ranker data only includes clients that participate for the full month for which the ranker is being released. Reported data includes listening from both adsupported and/or ad-free services. 1 iheartmedia Network includes all iheartmedia owned streams and the streams related to network affiliations 2 Publisher experienced minor and varied data issues through the period 3 Entercom Communications Corp. s streams are now listed as RADIO.COM In accordance with the Media Rating Council s Invalid Traffic Guidelines, the Triton Streaming Audio Ranker discloses gross received traffic versus net measured traffic. This is represented in Total Listening Hours (TLH) and Active Sessions (AS). The difference between gross received traffic and net measured traffic represents traffic that is excluded from processing as part of the measurement process, as noted below: Gross Total Listening Hours: 1,651,427,678 Net Total Listening Hours: 1,642,856,388 Gross Active Sessions: 3,408,869,885 Net Active Sessions: 3,310,148,047 % Filtered Total Listening Hours: 99.48% % Filtered Active Sessions: 97.10%

SEPTEMBER GLOBAL RANKER (based on AAS) DAYPART 6:00am to 12:00am, Monday through Sunday Station Average Active Sessions Session Starts Average Time Spent Listening iheartmedia Network 1 732,049 528,415,798 0.73 1 iheartradio 283,622 218,280,100 0.69 2 Prisa Radio 87,017 57,945,204 0.80 3 NPR Member Stations 2 62,927 38,704,332 0.85 4 RADIO.COM 3 47,018 40,346,527 0.62 5 Cumulus Streaming Network 44,681 31,236,357 0.76 6 AccuRadio 23,308 4,654,039 2.58 7 Sky Radio B.V. 21,847 6,475,379 1.73 8 Bell Media 19,671 8,158,770 1.27 9 Beasley Broadcasting Corporate 16,623 11,802,483 0.75 10 Karnaval.com 15,621 15,194,235 0.54 11 Univision 14,072 13,659,324 0.55 12 Grupo Radio Centro 13,644 10,183,329 0.70 13 EMF Corporate 13,584 6,462,888 1.11 14 ESPN Radio Corporate 12,633 11,462,995 0.58 15 Grupo Renascenca 11,623 3,672,025 1.69 16 New York Public Radio 11,096 6,378,489 0.92 17 CRP Radios 11,066 6,955,315 0.85 18 Hubbard Broadcasting 11,042 5,509,146 1.05 19 Grupo Acir 10,378 5,654,375 0.97 20 Salem Communications 9,243 6,764,329 0.72 Average Active Sessions (AAS): Total Listening Hours (TLH) divided by hours in the reported time period. TLH is defined as the total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total within the reported time period. Session Starts (SS): The number of different requests for streams (i.e., stream requests) with a duration of at least one minute in total within the reported time period. Average Time Spent Listening (ATSL): The average number of hours for each session with a duration of at least one minute in total within the reported time period. Calculated as total time spent listening divided by active sessions. Total Listening Hours (TLH): Total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total and any duration within the reported time period. Active Sessions (AS): Number of sessions that were active, with a duration of at least one minute in total and any duration within the reported time period. Note: Ranker data only includes clients that participate for the full month for which the ranker is being released. Reported data includes listening from both adsupported and/or ad-free services. 1 iheartmedia Network includes all iheartmedia owned streams and the streams related to network affiliations 2 Publisher experienced minor and varied data issues through the period 3 Entercom Communications Corp. s streams are now listed as RADIO.COM In accordance with the Media Rating Council s Invalid Traffic Guidelines, the Triton Streaming Audio Ranker discloses gross received traffic versus net measured traffic. This is represented in Total Listening Hours (TLH) and Active Sessions (AS). The difference between gross received traffic and net measured traffic represents traffic that is excluded from processing as part of the measurement process, as noted below: Gross Total Listening Hours: 413,524,828 Net Total Listening Hours: 396,151,210 Gross Active Sessions: 670,062,820 Net Active Sessions: 490,257,039 % Filtered Total Listening Hours: 95.80% % Filtered Active Sessions: 73.17%

SEPTEMBER US RANKER (based on AAS) DAYPART 6:00am to 12:00am, Monday through Sunday Station Average Active Sessions Session Starts Average Time Spent Listening iheartmedia Network 1 719,367 518,449,277 0.73 1 Spotify Corporate 2,411,085 2,983,384,138 0.43 2 Pandora Corporate 1,920,481 1,928,224,469 0.53 3 iheartradio 277,881 213,417,713 0.69 4 NPR Member Stations 2 56,726 34,785,039 0.86 5 RADIO.COM 3 46,858 40,231,580 0.62 6 Cumulus Streaming Network 43,246 30,320,905 0.75 7 Beasley Broadcasting Corporate 16,252 11,588,350 0.75 8 Univision 14,065 13,652,471 0.55 9 AccuRadio 12,668 2,333,060 2.84 10 EMF Corporate 12,570 5,814,368 1.14 11 ESPN Radio Corporate 12,103 10,964,995 0.58 12 Hubbard Broadcasting 10,943 5,410,442 1.06 13 New York Public Radio 10,044 5,636,674 0.94 14 Salem Communications 9,067 6,646,312 0.72 15 Urban One 7,213 5,482,502 0.69 16 Bonneville Corporate 6,627 4,785,117 0.74 17 Emmis Communications 5,903 4,791,169 0.65 18 Prisa Radio 4,607 4,571,294 0.63 19 Saga Communications 3,587 2,052,796 0.92 20 Entravision Communications Corporation 3,464 3,177,041 0.58 Average Active Sessions (AAS): Total Listening Hours (TLH) divided by hours in the reported time period. TLH is defined as the total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total within the reported time period. Session Starts (SS): The number of different requests for streams (i.e., stream requests) with a duration of at least one minute in total within the reported time period. Average Time Spent Listening (ATSL): The average number of hours for each session with a duration of at least one minute in total within the reported time period. Calculated as total time spent listening divided by active sessions. Total Listening Hours (TLH): Total number of hours that the station/publisher has streamed during sessions with a duration of at least one minute in total and any duration within the reported time period. Active Sessions (AS): Number of sessions that were active, with a duration of at least one minute in total and any duration within the reported time period. Note: Ranker data only includes clients that participate for the full month for which the ranker is being released. Reported data includes listening from both adsupported and/or ad-free services. 1 iheartmedia Network includes all iheartmedia owned streams and the streams related to network affiliations 2 Publisher experienced minor and varied data issues through the period 3 Entercom Communications Corp. s streams are now listed as RADIO.COM In accordance with the Media Rating Council s Invalid Traffic Guidelines, the Triton Streaming Audio Ranker discloses gross received traffic versus net measured traffic. This is represented in Total Listening Hours (TLH) and Active Sessions (AS). The difference between gross received traffic and net measured traffic represents traffic that is excluded from processing as part of the measurement process, as noted below: Gross Total Listening Hours: 2,488,151,391 Net Total Listening Hours: 2,482,630,970 Gross Active Sessions: 5,162,934,660 Net Active Sessions: 5,146,019,058 % Filtered Total Listening Hours: 99.78% % Filtered Active Sessions: 99.67%