Left to Your Own Devices Understanding Consumption in Today’S Connected World Q4 2018 Contents

VAB - INSIGHTS REPORT 2019 ...... Left To Your Own Devices Understanding Consumption In Today’s Connected World Q4 2018 Contents

Summary 3

Media Consumption Overview 4-8

Video Device Segmentation 9-14

4th Quarter Holiday TV Viewing Habits 15-17

Ad-Supported Multiscreen TV Brands 18-23

Cinema Highlight Reel 24-26

Contact Information 27

Appendix I – Major Ethnicities’ Device Usage 28-30

Appendix II – Live vs. Time-Shifted TV Viewing 31-33

2 Summary

In our latest quarterly report surveying the video landscape, Left To Your Own Devices, we update the media consumption habits of major demographic segments based on recently released Q4 ’18 data and take a deeper look into TV viewing habits during popular Q4 holidays.

Consumers are living in a video world – it accounted for over 50% of the 11+ hours that people spend with media per day in Q4 ‘18 - but it’s important to note that Television reigns as the leader of this world, with “live TV” representing nearly 70% of total video viewing.

However, we know that different demographics and people in different life stages may consume media differently than others and these behaviors continue to evolve. In recognition of this, we’ve updated our comprehensive segmentation analysis highlighting the who, what, where, when and how by device, which explores the nuances that exist within the video ecosystem.

Although overall time spent with Television (the device) has decreased, as video viewing grows on alternative devices such as connected devices and smartphones, ad-supported multiscreen TV brands are well-positioned to capture audiences across all demos and across any screen: • Ad-Supported TV-branded digital platform collectively grew their unique mobile reach to over 200 million adults in Q4 2018 • In any given minute…there are 8x more Adults 18+ watching multiscreen TV brands than are on YouTube and there are 5x more Millennials watching multiscreen TV brands than are on Facebook • Multiple ad-supported TV brands rank in the top 5 most popular digital platforms across major content genres

3 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Media Consumption Overview Adults Spent Over 11 Hours With Media Each Day During 4Q ’18; A 5% Increase vs. Last Year On average, Adults 18+ spend more time with Live TV than any other media

Average Daily Time Spent With Media Per Adult 18+ Based On Total U.S. Population 4Q ‘18 (Hrs:Mins)

0:05

Q4 2018 3:57 0:33 1:43 0:30 0:32 2:56 0:50 11:20

0:14

0:06

10:47 Q4 2017 4:08 0:36 1:47 0:22 0:37 2:14 0:44

0:13

Live TV Time-Shifted TV Radio DVD/Blu-ray Device Game Console Internet Connected Device Internet on a Computer App/Web on a Smartphone App/Web on a Tablet

Source: Nielsen Total Audience Report, Q4 2018. Note: Some amount of simultaneous usage may occur across devices. Internet Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). 5 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Daily Video Usage By Adults 18+ Was More Than Five And A Half Hours During 4Q ‘18, Or 51% of Total Media Time

Live TV accounted for 68% of total video viewing in 4Q ‘18

Average Daily Time Spent Per Adult 18+ On Video Based On Total U.S. Population 4Q ‘18 (Hrs:Mins) 5:46 5:47

0:04 0:07

0:09 0:09 0:14 0:07 0:40 0:49

4:44 4:30

Q4 2017 Q4 2018

Live TV + Time-Shifted TV TV-Connected Devices Video on a Computer Video Focused App/Web on a Smartphone Video Focused App/Web on a Tablet

Source: VAB analysis of data from the Nielsen Total Audience Report, Q4 2018. TV-Connected Device = DVD, game console, internet connected device; Internet Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). 6 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. TV Has A Clear Cut ‘Reach’ And ‘Time Spent’ Advantage Against All Other Devices

P18+ Average Weekly “Time Spent” Based on Total U.S. Population 4Q ’18 (hrs:mins) 31:33

20:32

3:45 3:31 1:35 0:50 0:49 1:36 0:35

Live+Time-Shifted App/Web on a Video Focused Internet on a Internet Connected Video Focused Video on a Game Console DVD/Blu-Ray TV Smartphone App/Web on a Computer Device App/Web on a Computer Device Smartphone Tablet 87% 81% 63% 54% 39% 28% 24% 15% 13%

Weekly Reach (based on U.S. Population)

Source: VAB analysis of data from the Nielsen Total Audience Report Q4 2018, time spent and percentage of users among U.S. population, P18+. Internet Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). 7 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. A Visual Representation Of Media Usage (‘Reach’ & ‘Time Spent’) Across Devices

Weekly Reach & ‘Time Spent’ Q4 2018, P18+ 100%

90% App/Web on a Smartphone 80% Live+Time-Shifted TV Video Focused App/Web on a Smartphone 70%

60% Internet on a Computer 50% Internet Connected Device

40% Weekly Reach Weekly 30% Video Focused App/Web on a Tablet Video on a Computer 20% Game Console 10% DVD/Blu-Ray Device 0% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Average Weekly Minutes

Source: VAB analysis of data from the Nielsen Total Audience Report Q4 2018, time spent and percentage of users among U.S. population, P18+. Internet Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). 8 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Video Device Segmentation Segmentation: Consumption Skews By Video Device

Television Connected Devices Smartphone Tablet Computer Game Consoles Via TV-connected devices Apps/websites such as Apple TV, Roku, through a Apps/Website On a XBOX One, Via one of their On a desktop or Google Chromecast, smartphone through a tablet PS4 or Nintendo How: multiple TV sets Amazon Fire TV, Smart TVs, laptop Smartphone, Computer, (iPhone, Android, (iPad, Android, etc) Switch etc. etc)

Skews towards Kids People of all ages & Video usage skews Skews towards and Millennials; Video usage skews Video usage skews ethnicities; P35+ Millennial and P35- Teenagers and Who: good penetration P35-49 P35-49 are heaviest users 49 Millennials also against P35-49

At home, or someone Mostly at home, At home, or Anytime, At home, at work else’s home, where At home or at although newer they have an average someone else’s Anywhere: home or on the go Where: work devices enable of 2.6 TV sets per home or on the go (like commuting) household “on the go” viewing

Video Viewing: 30+ ~31 hours / week 3+ hours / week on Video Viewing: 1+ Video Viewing: Around 40 mins/wk overall and a 2 hours/ week overall (P18+); primarily live; average with 3+ hours / week on mins/wk on average and little over 1 hr/wk for and 3+ hours among all day with emphasis hours / week among average and 2+ hours / almost 1 hr/wk for P18- When: P18-34; during the day 34; “snacking during the Teens & Millennials; on primetime and Kids & Millennials; week for Millennials; (lunch), nights & day,” nights & weekends nights and weekends wknds nights & weekends “snacking all day” weekends Streaming long-form Streaming or Streaming or Streaming or Streaming of long- A range of long-form TV programs & films, downloading of downloading of downloading of form entertainment, premium content via music, children’s short-form video / short-form video / short-form video / sports, children’s What: broadcast TV and/or shows via apps & clips or long-form clips or long-form clips or long-form shows via apps & MVPD subscription web content content content web

Source: chart includes VAB analysis of data from the Nielsen Total Audience Report 4Q 2018, Nielsen Npower & SNL Kagan 2018 data. 10 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Television Is The Leading Device For Video Reach Across All Major Demos Except For Adults 18-34 Where Smartphone Video Now Has A Slight Edge

Average Weekly Reach By Video Device, By Demo – 4Q ‘18 % of Users Among U.S. Population

93% 94% 87% 89% 84% 79% 78% 75% 73% 63% 57% 51% 48% 45% 41% 39% 39% 33% 28% 35% 29% 30% 32% 28% 28% 26% 28% 28% 24% 24% 19% 21% 15% 14% 6% 2%

P2-11 P12-17 P18+ P18-34 P35-49 P50-64 P65+ Live+Time-Shifted TV Internet-Connected Devices Game Console Video on a Computer Video Focused App/Web on a Smartphone Video Focused App/Web on a Tablet

Source: VAB analysis of data from the Nielsen Total Audience Report 4Q 2018; reach % of users among U.S. population; reach based on video-focused app/web use for Smartphone, Computer and Tablet. Mobile and computer-related data is not available for P2-11 or P12-17. Internet-Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). Charts exclude reach for DVD/Blu-ray devices. 11 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Television Accounts For A Majority Share Of ‘Time Spent’ With Video, Dominating Consumer Attention Across All Demographics

% Share Of Weekly “Time Spent” By Video Device – 4Q ’18 (Hrs:Mins Among U.S. Population) P2-11 P12-17 P18+ P18-34 2% (0:50) 12% 4% 4% (2:44) 24% (1:35) 51% (3:55) (0:59) 79% (14:03) 23% 65% 57% 2% (31:33) (5:02) (14:13) (9:24) 19% (0:49) 10% (3:07) 4% (2:42) (1:36) 13% 17% 9% 4% (3:38) (4:44) P35-49 P50-64 (3:31) P65+ (1:12) 1% 2% (0:37) (0:39) 1% 3% 2% (0:37) (1:02) (1:04) 4% 1% 1% (1:35) 74% (0:34) 88% (0:19) 1% 93% 3% (26:46) (41:03) 0% (0:27) (50:32) (1:00) (0:09) 4% 12% 6% 3% (1:50) (1:34) (4:15) (2:48)

TV (Live + Time-Shifted TV) Internet Connected Device Game Console Video on a Computer Video on a Smartphone Video on Tablet

Source: VAB analysis of data from the Nielsen Total Audience Report Q4 2018; based on hours:minutes among population; reach based on video-focused app/web use for Smartphone, Computer and Tablet. Mobile and computer-related data is not available for P2-11 or P12-17. Only includes video capable platforms. Internet-Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). Charts exclude time spent with DVD/Blue-ray devices. 12 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Almost 47 Million Adults 18+ Are Watching TV In Any Given Minute

Average Minute Audience: Adults 18+ Q4 ‘18 46,902,455

17,864,063

8,473,661 2,353,795 1,214,063 941,518 1,238,839 222,991

Live + Time-Shifted TV-Connected Radio Video on a Video Focused Streaming Audio Video Focused Streaming Audio TV Devices Computer App/Web on a on a Smartphone App/Web on a on a Tablet Smartphone Tablet

PC Smartphone Tablet

Source: VAB analysis of Nielsen Total Audience Report Q4 2018; Data based on weekly time spent averages among U.S. population in Q4 2018, P18+. 13 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Over Six Million Millennials Are Watching TV In Any Given Minute

Average Minute Audience: Adults 18-34 Q4 ‘18 6,182,000

3,908,667 4,150,667

1,188,000 528,000 440,000 432,667 80,667

PC Smartphone Tablet

Source: VAB analysis of Nielsen Total Audience Report Q4 2018; Data based on weekly time spent averages among U.S. population in Q4 2018, P18-34. 14 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. 4th Quarter Holiday TV Viewing Habits Daily TV Reach Among Younger Demos Is Higher On Popular Q4 Holidays Than On Comparable Days Within The Same Month

% Ad-Supported TV Daily Reach (Total Day) Live+SD

Thanksgiving Day Christmas Eve Christmas Day New Year’s Eve (November) (December) (December) (December)

Christmas Christmas New Year’s Thanksgiving Other PP Other PP Other PP Other PP Eve Day Eve (Thursday) Thursdays Change Mondays Change Tuesdays Change Mondays Change (Monday) (Tuesday) (Monday)

HHs 76% 81% -5% 74% 80% -6% 74% 80% -6% 78% 79% -1%

P13-17 41% 32% +9% 38% 33% +5% 39% 30% +9% 39% 33% +6%

P18-24 37% 30% +7% 33% 31% +2% 36% 29% +7% 33% 31% +2%

P25-34 46% 45% +1% 40% 45% -5% 43% 43% - 45% 44% +1%

P35-49 64% 65% -1% 60% 65% -5% 62% 63% -1% 65% 64% +1%

“Other” Day = Average of other similar weekdays (i.e: Thursdays or Mondays) in the holiday month

Source: VAB analysis of Nielsen Npower R+F Time Period Report, Live+SD, Total Day, broadcast + cable TV, based on 2018 dates, Live+SD. 16 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. People Tend To Watch Much More Ad-Supported TV On Most Q4 Holidays Than On Other Comparable Days In The Same Month

% Ad-Supported TV Daily Time Spent (Total Day) Live+SD (Hrs:Mins)

Thanksgiving Day Christmas Eve Christmas Day New Year’s Eve (November) (December) (December) (December)

Christmas Christmas New Year’s Thanksgiving Other Other Other Other Change Eve Change Day Change Eve Change (Thursday) Thursdays Mondays Tuesdays Mondays (Monday) (Tuesday) (Monday)

HHs 9:01 7:56 +1:05 8:12 8:09 +0:04 8:18 7:52 +0:26 8:30 8:04 +0:26

P13-17 3:07 2:05 +1:02 2:31 2:15 +0:07 2:42 2:09 +0:33 2:39 2:13 +0:27

P18-24 3:38 2:53 +0:45 2:58 3:04 -0:06 3:26 2:54 +0:32 3:12 3:01 +0:11

P25-34 4:12 3:20 +0:52 3:36 3:27 +0:09 3:47 3:14 +0:33 3:42 3:26 +0:17

P35-49 5:24 4:09 +1:15 4:36 4:21 +0:15 4:58 4:06 +0:51 4:44 4:19 +0:25

“Other” Day = Average of other similar weekdays (i.e: Thursday or Mondays) in the holiday month

Source: VAB analysis of Nielsen Npower R+F Time Period Report, Live+SD, Total Day, broadcast + cable TV, based on standard calendar months in 2018. 17 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Ad-Supported Multiscreen TV Brands: Well-Positioned To Extend Reach Through Digital Platforms Ad-Supported TV-Branded Digital Platforms Collectively Grew Their Average Monthly Unique Mobile Reach To Over 200 Million Adults in Q4 2018

Ad-Supported TV-Branded Platforms’ Mobile Reach: YoY Q4 Comparison Based on Monthly Average During Q4

Oct - Dec '17 Oct - Dec '18 Monthly average Monthly average 207,815 197,691 +5%

+2% 125,838 127,979

79,836 +11% 71,853

P18+ P18-49 P50+

Source: VAB analysis of comScore MediaMetrix Audience Duplication, mobile only, unique visitors; P18+, P18-49, and P50+, 2017 and 2018 averages by Q4 months (October-December). Ad-Supported Television Brands represents all measured Ad-Supported Cable nets, Broadcast Television and MVPDs. 19 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Total Minutes Spent On Ad-Supported TV-Branded Mobile Platforms During Q4 Increased Across Major Demos YoY

Ad-Supported TV-Branded Platforms’ Mobile ‘Time Spent’: YoY Q4 Comparison Based on Monthly Average ‘Total Minutes (MM)’ During Q4

Oct - Dec '17 Oct - Dec '18 Monthly average Monthly average

63,439 +8% 58,702

+3% 37,937 39,057

+17% 24,382 20,765

P18+ P18-49 P50+

Source: VAB analysis of comScore MediaMetrix Audience Duplication, mobile only, total minutes (MM); P18+, P18-49, and P50+, 2017 and 2018 averages by Q4 months (October-December). Ad-Supported Television Brands represents all measured Ad-Supported Cable nets, Broadcast Television and MVPDs. 20 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. “Average Audience” During Any Given Minute Highlights The Engagement Gap Between Multiscreen TV & Digital Platforms Among Adults

8x more P18+ are watching ad-supported TV content than are on YouTube in any given minute 12x more P18+ are watching ad-supported TV content than are on Facebook in any given minute

36,227 P18+ Average Audience (000)

Multiscreen online) + Multiscreen (TV 4,400 2,904 1,562 1,433 1,665 949 656 461 381 176 112 104 66 61 51 35 27 25 13

TV Brands YouTube Facebook Spotify Google Pandora Instagram Snapchat Yahoo Amazon iHeartRadio Aol reddit WhatsApp LinkedIn VEVO Indeed Washington PostBuzzFeed Pinterest

Source: VAB analysis of comScore MediaMetrix Key Measures multiplatform (desktop + mobile) data, December 2018; P18+. VAB analysis of Nielsen R&F Time Period Report, Live + SD, Total Day. December 1-31, 2018; P18+. “Average Audience” is based on the average minute, which is factored across the full month for websites and TV. TV Brands include linear TV and TV-related websites. comScore MediaMetrix data includes all visitor activity except for mobile video. 21 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. “Average Audience” During Any Given Minute Highlights The Engagement Gap Between Multiscreen TV & Digital Platforms Among Millennials Almost 2x more P18-34 are watching ad-supported TV content than are on YouTube in any given minute

5x more P18-34 are watching ad-supported TV content than are on Facebook in any given minute

4,235 P18-34 Average Audience (000)

2,319

1,130

Multiscreen online) + Multiscreen (TV 817 590 573 570 552

119 112 84 78 55 31 31 28 17 16 9 3

TV Brands YouTube Spotify Facebook Pandora Snapchat Instagram Google Twitch Amazon Twitter reddit Yahoo WhatsApp iHeartRadio VEVO LinkedIn Buzzfeed Aol Pinterest

Source: VAB analysis of comScore MediaMetrix Key Measures multiplatform (desktop + mobile) data, December 2018; P18-34. VAB analysis of Nielsen R&F Time Period Report, Live + SD, Total Day. December 1- 31 2018; P18-34. “Average Audience” is based on the average minute, which is factored across the full month for websites and TV. TV Brands include linear TV and TV-related websites. comScore MediaMetrix data includes all visitor activity except for mobile video. 22 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Ad-Supported TV Brands Represent Some Of The Most Popular Digital Content

Ad-Supported TV Brands That Rank In The Top 5 Digital Platforms By Major Content Genre Business & Sports News Financial News Kids Weather Food Home Comedy

Total Audience

P18-24

P25-34

P35-49

P50+

Source: VAB analysis of comScore Media Metrix Key Measures multi-platform (desktop + mobile) data, December 2018, based on categories (top 5 rankings based on “Total Minutes Viewed”). Total Audience = (Desktop P2+, Mobile 18+) 23 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Cinema Highlight Reel: Growing Audiences With A Strong Millennial Composition Total (P2+) Q4 Cinema Admissions Were Up +7% YoY In 2018; With Increases Against All Major Demos

Cinema Admissions by Demo: YoY Q4 Comparison in Millions

Oct-Dec 2017 Oct-Dec 2018

+2% 137 141

+6% 89 94

+6% 31 33 28 +25% 21 +39% 23 15

P2-11 P12-17 P18-34 P35-64 P55+

Source: VAB Analysis of Nielsen National Cinema Audience Report, October-December 2017 & October-December 2018, Admissions cumed across months in period 25 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Similar To Other Time Periods Throughout The Year, Cinema Is A Much More Millennial-Targeted Platform Than Online Media During The 4th Quarter Demographic Composition By Platform P18+, October - December 2018 Cinema Online P18-34 P35+ P18-34 P35+

57% 43% 33% 67%

Source: VAB Analysis of Nielsen National Cinema Audience Report, October-December 2018, Composition based on P18+ admissions; VAB analysis of comScore MediaMetrix Media Trend, Total Digital Population, October-December 2018, Total Internet, Composition based on P18+ reach composition average from October-December 2018. 26 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Contact Us

Reed Kiely Leah Montner-Dixon Senior Multiplatform Video Analyst Senior Multiplatform Video Analyst [email protected] [email protected] Join Our Email List

VAB @VABIntel Appendix I – Major Ethnicities’ Device Usage Television Is The Leading Device For Video Reach Across All Major Ethnicities

P18+ Average Weekly Reach 4Q ‘18 89% 87% 87%

71% 69% 69% 67% 63%

47% 43% 39% 35% 32% 30% 28% 29% 28% 24% 22% 21% 17% 15% 16% 12%

Live+Time-Shifted TV Internet Connected Device Game Console Video on a Computer Video Focused App/Web on a Video Focused App/Web on a Smartphone Tablet Total Black Hispanic Asian American

Source: Nielsen Total Audience Report, Q4 2018. TV includes time-shifted TV. Internet-Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). Charts exclude reach for DVD/Blu-ray devices. 29 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Television Also Dominates Video “Time & Attention” Across All Major Ethnicities

P18+ Average Weekly “Time Spent” – 4Q ‘18 (Hrs:Mins Among U.S. Population) 43:38

31:33

22:17

15:28

3:31 3:59 3:54 4:23 1:55 2:38 2:14 1:36 1:33 0:56 0:49 0:55 0:58 1:04 1:35 1:30 0:50 0:49 1:19 0:50

Live+Time-Shifted TV Internet Connected Device Game Console Video on a Computer Video Focused App/Web on aVideo Focused App/Web on a Smartphone Tablet Composite Black Hispanic Asian

Source: Nielsen Total Audience Report Q4 2018, hours:minutes among users, P18+. Internet-Connected Device = devices connected to the TV that are used to stream content such as Apple TV, Roku, Google Chromecast, Amazon Fire TV, Smartphone, Computer/Laptops, etc. (inclusive of smart TV app usage). Charts exclude reach for DVD/Blu-ray devices. 30 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Appendix II – Live vs. Time-Shifted TV Viewing

31 The Vast Majority Of TV Viewing Across All Major Demos Is Watched “Live”

Average Weekly TV Time Spent: “Live” vs. “Time-Shifted” Viewing 4Q '18

12% 12% 12% 12% 12% 15% 12% 11%

88% 88% 88% 88% 88% 85% 88% 89%

P2+ P2-11 P12-17 P18+ P18-34 P35-49 P50-64 P65+

% "Live" TV % Time-Shifted TV

Source: VAB analysis of Nielsen Total Audience Report Q4 2018; based on U.S. population. 32 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited. Each Of The Major Ethnicities Watch The Vast Majority Of Their TV Viewing “Live”

P18+ Average Weekly TV Time Spent: “Live” vs. “Time-Shifted” Viewing 4Q ‘18

12% 8% 10% 11%

88% 92% 90% 89%

Composite Black Hispanic Asian

% "Live" TV % Time-Shifted TV

Source: VAB analysis of data from the Nielsen Total Audience Report Q4 2018; based on U.S. population. 33 This information is exclusively provided to VAB members and qualified marketers. Further distribution is prohibited.