The document analyzes key performance indicators of top-rated radio stations in 33 PPM markets. It finds that daily cume (number of unique listeners) and tuning occasions (number of times listened) are the main drivers of ratings success. Top performers have much higher daily cume, with over 70% of their cume from listeners who tune in for 1+ hours daily. Formats like CHR, hot AC and Mexican regional tend to have #1 ranked stations that rely on high daily cume and occasions to achieve strong ratings among the 18-34 demographic.

1. PPM Top Performers Key Indicators of Highly Rated PPM Stations An analysis of top ranked stations in 33 PPM markets Jenny Tsao PPM Market Manager Arbitron Inc.

6. As a Reminder… How Share Is Calculated: Cume X TSL /Hours in Daypart/PUR * 100 Daily Daily

7. Top Performers Have Much Higher Daily Cume Persons 18-34 Source: 33 PPM Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34

8. Top Performers Have Much Higher Daily Cume Persons 25-54 Source: 33 PPM Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P25-54

11. Two Components of TSL Occasions and Time Spent per Occasion

12. Share Fundamentals Duration per Occasion Number of Occasions Cume Time Spent Listening Daily Daily

13. Share Fundamentals Daily Daily Duration per Occasion Number of Occasions Cume Time Spent Listening Old School: How Long

14. Share Fundamentals Old School: How Long New School: How Often Duration per Occasion Number of Occasions Cume Time Spent Listening Daily Daily

15. A Look at 18-34 Top Performers

17. Who Are the #1’s for Persons 18-34? CHR Stations #1 10 of 33 PPM markets Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, #1 Ranked Stations Based on AQH Share, P18-34

18. 1 in 7 Persons 18-34 Tune Into the Top-Ranked Station During an Average Day Daily Occasions 4.7 Time Spent per Occasion 10 minutes 1+ Hr Cume 71% Daily Cume 14.6% AQH Share 10.5% Daily TSL 1:06 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, #1 Ranked Stations Based on AQH Share, P18-34 Anatomy of Top-Ranked P18-34 Stations

19. Key Metrics for the Average Station Persons 18-34 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P18-34 9 Daily Time Spent per Occasion (minutes) 3.3 Daily Occasions 0:50 Daily TSL 48% Percent 1+ Daily Cume 3.6% Daily Cume Rating 2.2% AQH Share Average Station

20. Top 3 Stations vs. the Average Station Persons 18-34 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P18-34 Higher Shares for Top Three Stations driven by bigger Daily Cume. Daily Occasions are the key to higher Time Spent Listening. 9 9 Daily Time Spent per Occasion (minutes) 4.5 3.3 Daily Occasions 1:01 0:50 Daily TSL 70.2% 48% Percent 1+ Daily Cume 12.5% 3.6% Daily Cume Rating 9.0% 2.2% AQH Share Top 3 Stations Average Station

21. Key Metrics for Number 1 Stations Persons 18-34 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P18-34 Daily Cume is the difference maker between the number one spot and a top three position. 10 9 9 Daily Time Spent per Occasion (minutes) 4.7 4.5 3.3 Daily Occasions 1:06 1:01 0:50 Daily TSL 71% 70.2% 48% Percent 1+ Daily Cume 14.6% 12.5% 3.6% Daily Cume Rating 10.5% 9.0% 2.2% AQH Share Number 1 Stations Top 3 Stations Average Station

22. Key Metrics: The Number One #1 Persons 18-34 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P18-34 KRXQ (Active Rock) was the station with the highest 18-34 share among the 33 markets. Its Top Rank was driven by high Daily Cume and extraordinary Occasions. 10 4.7 1:06 71% 14.6% 10.5% Number 1 Stations 11 9 9 Daily Time Spent per Occasion (minutes) 7.4 4.5 3.3 Daily Occasions 1:49 1:01 0:50 Daily TSL 78% 70.2% 48% Percent 1+ Daily Cume 15.1% 12.5% 3.6% Daily Cume Rating 18.5% 9.0% 2.2% AQH Share KRXQ-FM Sacramento Top 3 Stations Average Station

23. Key Metrics for 18-34 Top Performers (#1s) by Format Source: 33 PPM Markets, Metro, Mon-Sun 6AM-Mid, Jan-Feb-Mar 2010, P18-34, Formats Defined by #1 Stations Ranked on AQH Share 8.5 4.3 0:57 76% 54% 12.1% 7.9% Hot AC. (2) 10.3 6.6 1:30 94% 84% 8.5% 8.5% Mexican Regional (3) 9.0 5.4 1:12 82% 51% 8.9% 8.9% Adult Contemporary (1) 9.0 5.1 1:09 88% 68% 11.8% 9.0% Adult Oriented Rock (1) 8.5 4.2 0:53 83% 70% 15.9% 9.7% Rhythmic CHR (6) 9.2 3.8 0:52 83% 69% 17.4% 10.4% Pop CHR (10) 10.3 4.9 1:11 89% 73% 14.5% 10.9% Alternative/AAA (4) 12.0 4.5 1:12 92% 81% 14.8% 12.0% Urban Contemp. (1) 10.0 5.0 1:07 87% 70% 18.8% 12.2% Country (1) 11.0 5.8 1:19 93% 81% 14.6% 12.8% Urban AC (1) 12.0 8.1 2:27 98% 87% 9.4% 13.5% Spanish Classic Hits (1) 10.5 6.0 1:25 92% 79% 16.0% 15.6% Active Rock (2) TSL Per Occasion Daily Occasions Daily TSL % of AQH 1+ hour Cume % of Cume 1+ hour per day Daily Cume AQH Share Format (# of top-ranked stations)

24. Where Daily Cume and Daily TSL Meet Low Cume, High TSL Targeted Formats High Cume, Low TSL Broad Appeal Low Cume, Low TSL Limited Appeal Avg Daily Cume Avg. Daily Time Spent High Cume, High TSL Broader Appeal, High Passion

25. Where Daily Cume and Daily TSL Meet Big Cume Avg Daily Cume Avg. Daily Time Spent High TSL High-Performer Neighborhood

26. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations for P18-34 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34, Average of Top 3 Stations by Format Across 33 Markets Sorted by AQH Share Cume Rating Time Spent Listening Average Station Daily Cume = 3.6 TSL per day = :50

27. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations for P18-34 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34, Average of Top 3 Stations by Format Across 33 Markets Sorted by AQH Share Cume Rating Time Spent Listening Average Station Daily Cume = 3.6 TSL per day = :50

28. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations for P18-34 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34, Average of Top 3 Stations by Format Across 33 Markets Sorted by AQH Share Time Spent Listening Average Station Daily Cume = 3.6 TSL per day = :50 Cume Rating

29. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations for P18-34 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34, Average of Top 3 Stations by Format Across 33 Markets Sorted by AQH Share Cume Rating Time Spent Listening Average Station Daily Cume = 3.6 TSL per day = :50

30. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations for P18-34 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P18-34, Average of Top 3 Stations by Format Across 33 Markets Sorted by AQH Share Average Station Daily Cume = 3.6 TSL per day = :50 Cume Rating Time Spent Listening

31. A Look at 25-54 Top Performers

33. Who are the #1s for Persons 25-54? AC represents 33% of the Number One Stations Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Count of Stations by Format, P25-54

34. 1 in 9 Persons 25-54 Tune In to the Top-Ranked Station During an Average Day Daily Cume 11.3% AQH Share 8.4% Daily TSL 1:16 Daily Occasions 5.5 Time Spent per Occasion 10 minutes Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, #1 Ranked Stations Based on AQH Share, P18-34 1+ Hr Cume 69% Anatomy of Top-Ranked P25-54 Stations

35. Key Metrics for the Average Station Persons 25-54 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P25-54 9 Daily Time Spent per Occasion (minutes) 4.2 Daily Occasions 0:57 Daily TSL 59% Percent 1+ Daily Cume 3.7% Daily Cume Rating 2.1% AQH Share Average Station

36. Top 3 Stations vs. the Average Station Persons 25-54 Higher Shares for Top Three Stations driven by bigger Daily Cume. Occasions are the key to higher Time Spent Listening. Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P25-54 10 9 Daily Time Spent per Occasion (minutes) 5.4 4.2 Daily Occasions 1:14 0:57 Daily TSL 69% 59% Percent 1+ Daily Cume 9.9% 3.7% Daily Cume Rating 7.1% 2.1% AQH Share Top 3 Stations Average Station

37. Key Metrics for Number 1 Stations Persons 25-54 Daily Cume is the primary difference maker between the number one spot and a top three position. Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P25-54 10 10 9 Daily Time Spent per Occasion (minutes) 5.5 5.4 4.2 Daily Occasions 1:16 1:14 0:57 Daily TSL 69% 69% 59% Percent 1+ Daily Cume 11.3% 9.9% 3.7% Daily Cume Rtg 8.4% 7.1% 2.1% AQH Share Number 1 Stations Top 3 Stations Average Station

38. Key Metrics: The Number One #1 Persons 25-54 Source: PPM 33 Metro Markets, Jan-Feb-Mar 2010, Stations Based on AQH Share, P25-54 WDVE (AOR) was the station with the highest 25-54 share among the 33 markets. Its Top Rank was driven by extraordinary Daily Cume and very high Occasions. 10 5.5 1:16 69% 11.3% 8.4% Number 1 Stations 10 10 9 Daily Time Spent per Occasion (minutes) 6.1 5.4 4.2 Daily Occasions 1:28 1:14 0:57 Daily TSL 77% 69% 59% Percent 1+ Daily Cume 17.5% 9.9% 3.7% Daily Cume Rtg 14.6% 7.1% 2.1% AQH Share WDVE-FM Pittsburgh Top 3 Stations Average Station

39. Key Metrics for 25-54 Top Performers (#1s) by Format Source: 33 PPM Markets, Metro, Mon-Sun 6AM-Mid, Jan-Feb-Mar 2010, P25-54, Formats Defined by #1 Stations Ranked on AQH Share 9.0 4.0 0:53 83% 66% 12.9% 6.4% Pop CHR (3) 12.0 6.5 1:32 96% 89% 7.8% 7.2% Spanish Classic Hits (1) 10.5 5.5 1:16 85% 63% 11.2% 7.9% Classic Hits (1) 10.0 5.4 1:21 94% 84% 10.3% 8.0% Sports (1) 10.2 5.6 1:16 84% 60% 10.9% 8.0% AC (11) 9.5 5.6 1:11 88% 71% 12.2% 8.4% Classic Rock (2) 10.0 5.2 1:09 86% 67% 13.4% 8.6% Hot AC (1) 9.5 5.6 1:18 93% 82% 11.3% 9.2% News Talk (2) 11.0 6.7 1:35 94% 81% 10.7% 9.8% Urban AC (2) 9.5 6.0 1:24 91% 77% 11.4% 9.9% Active Rock (2) 10.0 4.7 1:06 93% 85% 15.9% 11.8% All News (1) 10.0 6.1 1:28 93% 78% 17.5% 14.6% AOR (1) TSL Per Occasion Daily Occasions Daily TSL % of AQH 1+ hour Cume % of Cume 1+ hour per day Daily Cume AQH Share Format (# of top-ranked stations)

40. Where Daily Cume and Daily TSL Meet Average of Top 3 Ranked Stations per Format for P25-54 Source: 33 PPM Metro Markets, Jan-Feb-Mar 2010, Mon-Sun 6AM-Mid, P25-54, Average of Top 3 Ranked Stations per Format by AQH Share Average Station Daily Cume = 3.7 TSL per day = :57 Cume Rating Time Spent Listening