Top 20 Ranker. April 2018

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Top 20 Ranker April 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.

April 2018 Digital Audio Insights & Trends Year-Over-Year ATSL Change (Global Ranker, M-Su 6a-12m)* Average Time Spent Listening (ATSL) within the Global Ranker (M-Su 6a-12m) increased 9% year-overyear, with iheartradio leading that change, with a 38.6% increase in ATSL year-over-year. 40% 38.6% 30% 31.1% 22.6% 20% 17.3% 11.6% 11.1% 11.1% 10% 8.8% 7.5% 7.4% 0% -10% -20% iheartradio EMF Corporate Grupo Acir Univision New York Public Radio Salem Communications Entercom Communications Corp. Karnaval.com Sky Radio B.V. Cumulus Streaming Network 2.5% Prisa Radio 1.0% NPR Member Stations AccuRadio -2.6% -7.6% -14.6% *The above chart is inclusive of the Top 20 publishers that appear in both the April 2017 M-Su 6a-12M Global Ranker as well as the April 2018 M-Su 6a-12M Global Ranker. -0.8% Beasley Broadcasting Corporate Hubbard Broadcasting ESPN Radio Corporate Please direct all insights inquiries to Ranker@TritonDigital.com.

April 2018 Digital Audio Insights & Trends Total Weekday Listening Remains Steady at 6.14 Million in the U.S. All measured clients within the U.S. reported a total of 6,147,134 Average Active Sessions (AAS) during the Monday through Friday 6:00am to 8:00pm daypart, and 5,146,753 AAS during the Monday through Sunday 6:00AM to Midnight daypart. 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 2014-Q1 2014-Q3 2015-Q1 2015-Q3 2016-Q1 2016-Q3 2017-Q1 2017-Q3 2018-Q1 Weekday Listening Shows Highest Peak at 2:00pm Midweek listening shows peak AAS occurring at 2pm in April of 2018. Over the weekend, listening shows peak AAS at 1pm, before gradually declining throughout the afternoon. 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Mon-Fri Sat-Sun 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.

April 2018 Digital Audio Insights & Trends Country Format Shows Largest Increase at 12.5% When compared to March 2018, the Country format showed the largest increase at 12.5% in AAS during the Monday through Friday, 6am-7pm daypart. 12.5% 10.6% 9.5% 8.1% 5.6% 3.1% 1.5% 0.9% 0.9% -0.1% Country Talk Urban Contemporary Classic Rock Sports Modern Adult Contemp News/Talk Classical Top 40 (CHR) Adult Contemporary Please direct all insights inquiries to Ranker@TritonDigital.com.

April 2018 Digital Audio Insights & Trends Washington DC Market Shows Largest Increase at 8.6% Looking at the Top 15 markets as compared to March 2018, the Washington DC market showed the largest listening increase at 8.6% in AAS during the Monday through Friday 6am to 7pm daypart, followed by Chicago. 8.6% 5.8% 5.1% 4.6% 3.6% 3.2% 2.1% 1.3% 0.5% 0.3% -0.3% -1.0% -2.1% -2.6% -3.3% Washington DC Chicago Philadelphia Miami-Ft. Lauderdale-Hollywood New York Dallas-Ft. Worth Atlanta Boston Los Angeles San Francisco Denver-Boulder San Diego Seattle-Tacoma Phoenix Houston-Galveston Please direct all insights inquiries to Ranker@TritonDigital.com.

April 2018 Digital Audio Top 20 Ranker Triton Digital has released its monthly digital audio Top 20 Ranker for April 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 April rankings can be found below.

APRIL 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 1,091,091 462,250,791 0.68 1 iheartradio 399,776 192,247,590 0.60 2 Prisa Radio 128,556 43,084,003 0.85 3 NPR Member Stations 2 90,081 30,019,983 0.85 4 Entercom Communications Corp. 81,896 32,439,690 0.72 5 Cumulus Streaming Network 70,399 25,655,008 0.79 6 AccuRadio 35,168 4,454,022 2.21 7 Sky Radio B.V. 28,350 4,547,628 1.63 8 Beasley Broadcasting Corporate 3 27,028 11,529,528 0.68 9 Univision 25,158 13,141,084 0.56 10 Karnaval.com 23,864 11,369,394 0.60 11 ESPN Radio Corporate 21,354 10,283,784 0.60 12 Grupo Radio Centro 20,238 7,401,372 0.78 13 Hubbard Broadcasting 18,808 4,780,554 1.12 14 EMF Corporate 18,622 4,499,782 1.18 15 Grupo Renascenca 17,874 3,166,183 1.64 16 Grupo Acir 14,519 3,909,149 1.07 17 New York Public Radio 14,379 4,171,131 0.98 18 Salem Communications 14,179 5,273,712 0.76 19 CRP Radios 13,251 4,289,043 0.89 20 Bonneville Corporate 11,188 3,931,683 0.82 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 Beasley Broadcasting Corporate includes Greater Media Corporate 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: 342,342,588 Net Total Listening Hours: 335,004,305 Gross Active Sessions: 455,268,075 Net Active Sessions: 442,449,248 % Filtered Total Listening Hours: 97.86% % Filtered Active Sessions: 97.18%

APRIL 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 1,077,515 456,250,000 0.68 1 Pandora Corporate 2,598,430 1,349,524,963 0.56 2 Spotify Corporate 2,575,533 1,871,682,883 0.40 3 iheartradio 393,828 189,134,549 0.60 4 NPR Member Stations 2 81,644 26,550,718 0.87 5 Entercom Communications Corp. 81,408 32,261,612 0.72 6 Cumulus Streaming Network 68,605 25,080,367 0.78 7 Beasley Broadcasting Corporate 3 26,513 11,362,645 0.68 8 Univision 25,150 13,136,229 0.56 9 ESPN Radio Corporate 20,489 9,821,562 0.60 10 AccuRadio 19,728 2,444,045 2.30 11 Hubbard Broadcasting 18,625 4,650,438 1.14 12 EMF Corporate 17,590 4,144,558 1.21 13 Salem Communications 13,990 5,204,506 0.76 14 New York Public Radio 13,251 3,763,555 1.00 15 Urban One 11,068 4,027,574 0.79 16 Bonneville Corporate 10,994 3,857,193 0.82 17 Emmis Communications 9,301 3,906,755 0.69 18 Prisa Radio 7,507 3,914,179 0.67 19 Entravision Communications Corporation 6,451 3,081,667 0.61 20 Saga Communications 5,844 1,700,749 0.98 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 Beasley Broadcasting Corporate includes Greater Media Corporate 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: 1,774,195,612 Net Total Listening Hours: 1,765,749,340 Gross Active Sessions: 3,635,356,625 Net Active Sessions: 3,614,850,378 % Filtered Total Listening Hours: 99.52% % Filtered Active Sessions: 99.44%

APRIL 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 1 724,411 591,828,683 0.65 1 iheartradio 288,459 269,981,093 0.57 2 Prisa Radio 91,912 59,769,789 0.82 3 NPR Member Stations 2 69,922 42,717,118 0.86 4 Entercom Communications Corp. 55,305 40,375,977 0.72 5 Cumulus Streaming Network 46,262 30,863,904 0.79 6 AccuRadio 24,449 5,952,861 2.14 7 Sky Radio B.V. 22,921 6,966,798 1.70 8 Karnaval.com 17,862 17,018,205 0.55 9 Beasley Broadcasting Corporate 3 17,727 13,878,712 0.68 10 Univision 16,096 15,457,552 0.56 11 ESPN Radio Corporate 14,023 12,301,233 0.60 12 Grupo Radio Centro 13,728 9,653,489 0.75 13 EMF Corporate 13,074 6,304,365 1.10 14 Hubbard Broadcasting 12,097 5,690,706 1.12 15 Grupo Renascenca 11,766 4,325,741 1.45 16 CRP Radios 11,469 6,804,543 0.90 17 New York Public Radio 11,036 5,853,520 0.99 18 Salem Communications 9,433 6,321,123 0.78 19 Grupo Acir 9,408 4,928,616 1.01 20 Grupo RPP 7,485 4,517,751 0.88 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 Beasley Broadcasting Corporate includes Greater Media Corporate 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: 447,578,450 Net Total Listening Hours: 436,618,041 Gross Active Sessions: 616,861,676 Net Active Sessions: 596,834,774 % Filtered Total Listening Hours: 97.55% % Filtered Active Sessions: 96.75%

APRIL 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 1 713,205 582,528,825 0.65 1 Spotify Corporate 2,301,555 2,989,286,928 0.41 2 Pandora Corporate 2,164,834 2,095,481,344 0.55 3 iheartradio 283,501 265,123,324 0.57 4 NPR Member Stations 2 62,107 36,793,111 0.89 5 Entercom Communications Corp. 54,928 40,135,196 0.72 6 Cumulus Streaming Network 44,741 29,966,444 0.79 7 Beasley Broadcasting Corporate 3 17,350 13,647,375 0.68 8 Univision 16,089 15,449,718 0.56 9 ESPN Radio Corporate 13,341 11,639,091 0.61 10 AccuRadio 12,917 3,002,820 2.27 11 EMF Corporate 12,214 5,752,066 1.12 12 Hubbard Broadcasting 11,924 5,470,160 1.14 13 New York Public Radio 10,026 5,155,315 1.03 14 Salem Communications 9,267 6,214,904 0.78 15 Urban One 7,153 4,873,513 0.78 16 Bonneville Corporate 7,093 4,595,307 0.82 17 Emmis Communications 6,358 5,043,241 0.67 18 Prisa Radio 5,046 4,793,284 0.67 19 Entravision Communications Corporation 3,927 3,430,260 0.61 20 Saga Communications 3,797 2,014,853 0.99 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 Beasley Broadcasting Corporate includes Greater Media Corporate 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: 2,737,620,569 Net Total Listening Hours: 2,726,011,569 Gross Active Sessions: 5,626,941,099 Net Active Sessions: 5,599,621,674 % Filtered Total Listening Hours: 99.58% % Filtered Active Sessions: 99.51%