Top 20 Ranker. May 2018

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Top 20 Ranker May 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.

May 2018 Digital Audio Insights & Trends Total Weekday Listening Remains Steady at 6.08 Million in the U.S. All measured clients within the U.S. reported a total of 6,087,456 Average Active Sessions (AAS) during the Monday through Friday 6:00am to 8:00pm daypart, and 5,177,095 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 May 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.

May 2018 Digital Audio Insights & Trends Modern Adult Contemporary Format Shows Largest Increase at 3.82% When compared to April 2018, the Modern Adult Contemporary format showed the largest increase at 3.82% in AAS during the Monday through Friday, 6am-7pm daypart. 3.8% 0.6% 0.0% -0.9% -1.0% -1.4% -1.9% -2.4% -3.1% -6.0% Modern Adult Contemporary Talk Adult Contemporary Country Classic Rock Urban Contemporary Top 40 (CHR) Hot AC News/Talk Sports Please direct all insights inquiries to Ranker@TritonDigital.com.

4.1% 4.1% 3.7% 3.5% May 2018 Digital Audio Insights & Trends Washington DC Market Shows Largest Increase at 4.64% Looking at the Top 15 markets as compared to April 2018, the Washington DC market showed the largest listening increase at 4.64% in AAS during the Monday through Friday 6am to 7pm daypart, followed by Boston. 4.6% 2.8% 2.1% 1.2% 1.0% 0.6% 0.5% 0.1% -1.1% -1.2% -1.4% Washington DC Boston New York Detroit San Francisco Chicago Atlanta Los Angeles Denver-Boulder Phoenix Houston-Galveston Dallas-Ft. Worth Miami-Ft. Lauderdale-Hollywood Seattle-Tacoma Philadelphia Please direct all insights inquiries to Ranker@TritonDigital.com.

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

MAY 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 1,109,220 518,240,217 0.67 1 iheartradio 408,984 190,296,408 0.68 2 Prisa Radio 122,178 46,318,693 0.82 3 NPR Member Stations 2 83,881 30,910,127 0.84 4 Entercom Communications Corp. 80,292 33,330,003 0.76 5 Cumulus Streaming Network 67,222 27,880,697 0.76 6 AccuRadio 33,295 4,469,295 2.27 7 Sky Radio B.V. 27,224 4,822,148 1.62 8 Beasley Broadcasting Corporate 3 25,812 12,314,840 0.67 9 Univision 24,346 13,887,425 0.55 10 Karnaval.com 23,695 12,268,093 0.60 11 ESPN Radio Corporate 19,973 11,305,098 0.56 12 EMF Corporate 19,697 5,146,834 1.20 13 Grupo Radio Centro 19,153 8,072,769 0.74 14 Hubbard Broadcasting 17,859 5,135,392 1.08 15 Grupo Renascenca 17,211 3,365,395 1.63 16 Grupo Acir 14,782 4,368,611 1.06 17 Salem Communications 13,589 5,931,988 0.71 18 CRP Radios 13,324 4,836,046 0.87 19 New York Public Radio 12,234 4,098,923 0.93 20 Urban One 11,047 4,730,187 0.74 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: 367,487,951 Net Total Listening Hours: 359,711,745 Gross Active Sessions: 490,863,362 Net Active Sessions: 457,209,810 % Filtered Total Listening Hours: 97.88% % Filtered Active Sessions: 93.14%

MAY 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 1,095,160 511,447,915 0.67 1 Spotify Corporate 2,590,398 1,860,633,340 0.44 2 Pandora Corporate 2,551,854 1,474,698,499 0.55 3 iheartradio 402,531 186,810,761 0.68 4 Entercom Communications Corp. 79,824 33,158,825 0.75 5 NPR Member Stations 2 75,777 27,273,124 0.86 6 Cumulus Streaming Network 65,476 27,241,204 0.75 7 Beasley Broadcasting Corporate 3 25,302 12,140,476 0.66 8 Univision 24,338 13,882,579 0.55 9 ESPN Radio Corporate 19,148 10,781,776 0.56 10 EMF Corporate 18,591 4,727,507 1.23 11 AccuRadio 18,580 2,304,769 2.50 12 Hubbard Broadcasting 17,680 4,999,298 1.10 13 Salem Communications 13,401 5,852,164 0.71 14 New York Public Radio 11,233 3,692,281 0.95 15 Urban One 10,992 4,710,351 0.73 16 Bonneville Corporate 10,049 3,903,986 0.81 17 Emmis Communications 9,190 4,479,556 0.65 18 Prisa Radio 7,251 4,168,124 0.65 19 Entravision Communications Corporation 6,313 3,378,826 0.60 20 Saga Communications 5,580 1,826,421 0.95 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: 1,927,473,375 Net Total Listening Hours: 1,920,249,455 Gross Active Sessions: 3,776,570,495 Net Active Sessions: 3,740,187,475 % Filtered Total Listening Hours: 99.63% % Filtered Active Sessions: 99.04%

MAY 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 1 765,228 647,831,606 0.65 1 iheartradio 304,285 252,367,651 0.66 2 Prisa Radio 91,317 62,356,193 0.81 3 NPR Member Stations 2 66,277 42,108,291 0.85 4 Entercom Communications Corp. 55,354 39,556,446 0.76 5 Cumulus Streaming Network 46,099 33,001,160 0.76 6 AccuRadio 23,914 5,811,397 2.21 7 Sky Radio B.V. 22,431 7,091,415 1.68 8 Karnaval.com 18,013 17,531,386 0.56 9 Beasley Broadcasting Corporate 3 17,571 14,440,963 0.67 10 Univision 16,096 16,117,870 0.55 11 ESPN Radio Corporate 14,727 15,473,741 0.52 12 EMF Corporate 14,013 6,825,136 1.12 13 Grupo Radio Centro 13,494 10,274,853 0.71 14 Hubbard Broadcasting 12,049 6,062,022 1.08 15 CRP Radios 11,848 7,377,985 0.88 16 Grupo Renascenca 11,769 4,382,309 1.48 17 Grupo Acir 10,007 5,375,958 1.02 18 New York Public Radio 9,604 5,498,338 0.95 19 Salem Communications 9,388 6,958,095 0.73 20 Grupo RPP 8,364 5,409,630 0.85 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: 469,507,297 Net Total Listening Hours: 457,678,751 Gross Active Sessions: 648,139,421 Net Active Sessions: 592,905,210 % Filtered Total Listening Hours: 97.48% % Filtered Active Sessions: 91.48%

MAY 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 1 753,404 637,768,215 0.65 1 Spotify Corporate 2,337,386 2,887,120,598 0.45 2 Pandora Corporate 2,157,811 2,195,680,244 0.54 3 iheartradio 298,876 247,195,018 0.66 4 NPR Member Stations 2 58,741 36,221,398 0.88 5 Entercom Communications Corp. 54,990 39,332,732 0.76 6 Cumulus Streaming Network 44,592 32,040,338 0.76 7 Beasley Broadcasting Corporate 3 17,187 14,210,926 0.67 8 Univision 16,089 16,110,225 0.55 9 ESPN Radio Corporate 14,042 14,704,090 0.52 10 EMF Corporate 13,104 6,205,478 1.15 11 AccuRadio 12,701 2,771,759 2.49 12 Hubbard Broadcasting 11,878 5,839,187 1.10 13 Salem Communications 9,219 6,839,301 0.73 14 New York Public Radio 8,697 4,845,040 0.98 15 Urban One 7,386 5,561,632 0.73 16 Bonneville Corporate 6,800 4,554,514 0.82 17 Emmis Communications 6,725 5,825,173 0.63 18 Prisa Radio 5,119 5,093,804 0.65 19 Entravision Communications Corporation 4,046 3,738,412 0.60 20 Saga Communications 3,787 2,138,194 0.96 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: 2,850,038,532 Net Total Listening Hours: 2,839,761,045 Gross Active Sessions: 5,646,833,280 Net Active Sessions: 5,590,068,864 % Filtered Total Listening Hours: 99.64% % Filtered Active Sessions: 98.91%