Entercom presentation at the Digiday Publishing Summit - September 24-26, 2018. By: JD Crowley, Chief Digital Officer

1. J.D. Crowley, Chief Digital Officer
(Not a Pivot to Audio)
Rise of Voice, Smart Speakers,
and the Audio Renaissance

2. 2
Denver
Seattle
Portland
Palm Springs
Minneapolis
Wichita
New Orleans
Madison
Milwaukee
Chicago
Kansas City
Memphis
Dallas
Austin Gainesville
Orlando
Detroit
Rochester
New York City
Philadelphia
Baltimore
Washington, D.C.
Norfolk
Wilkes-Barre
Greensboro
Greenville
Atlanta
Cleveland
Worcester
Hartford
Boston
Providence
Springfield
Buffalo
Pittsburgh
Miami
Sacramento
San Francisco
Las VegasLos Angeles
Phoenix
San Diego
Riverside
Houston
Indianapolis
St. Louis
CharlotteChattanooga
Richmond
• 235+ stations
• 48 markets
• 2nd largest radio
group in the country
Nielsen NRD Spring 2017 P12+, 4 week cume model based on unified panel
Nielsen Radio Market Survey, Fall 2016, Persons +12 Population % Coverage of Top 50 Metro 12+ Pop
monthly listeners
112 Million
90% Coverage
of Top 50 Markets
America’s #1
creator of live,
original, local
audio content

3. 3
What You Need to Know
Voice
Smart
Speakers /
Smart
Devices
Audio
1 2 3

4. 4
What You Need to Know: Voice
Desktop Era Mobile Era Voice Era
Voice Represents the Third Era of Search

5. 5
What You Need to Know: Voice
Position Zero
The Invisible
Brand
(Unaided Recall)
Low Failure
Tolerance
(Mimics Human
Interaction)
1 2 3

6. 6
What You Need to Know
Smart
Speakers /
Smart
Devices
1 2 3

7. 50MM smart
speakers,
20% of the
current U.S.
population
Smart Speaker Penetration, U.S., Years from Inception, % Population
1) Radio, TV, and computer measured as share of U.S. households. Smartphone and Internet measurement as share of U.S.
population. Source: Activate Forecast: Activate analysis, U.S. Census Bureau, World Bank.
Voice-activated devices have the fastest adoption of any new technology,
faster than smartphones
7

8. Source: 1) Nov 2017 Bridge Ratings, CIRP, voicebot.ai, Amazon, Gartner, Edison, US Census, Statistica, Accenture analysis
US Smart Speaker Installed Base
and Product Launches
2016-2020, in millions1
New market entrants will likely account for continued
high adoption in 2018, including products from Apple,
Samsung, Facebook
26%
30%
42%
47%
53%
55%
Apple
Music
Amazon
Music
Pandora
Youtube
Spotify
FM
Radio
Music Sources Accessed by
US Smart Speaker Users
US Smart Speaker Users, by Brand,
2018 & 2020
% of Smart Speaker users
Smart Speaker Adoption Has Been Rapidly Accelerating,
Presenting Opportunities to Interact With Listeners in New Ways
Note: Cortana supports Harman device; Bixby
supports Samsung device
FM Radio is currently the primary music source
of smart speaker users
8

9. 9
Source: techcrunch.com/2018/09/19/google-home-mini-was-the-best-selling-smart-speaker-in-q2/
Note: Worldwide Date
Worldwide Smart Speaker Shipments Reached 11.7 Million in 2Q18
4 of the top 5
devices coming
from either
Amazon (30%) or
Google (27%)
Global Smart Speaker Shipments by Model (Millions of Units)
Speaker Q218 Market Share
1. Google Home Mini 2.3 20%
2. Amazon Echo Dot 2.2 18%
3. Amazon Echo 1.4 12%
4. Alibaba Tmall Genie 0.8 7%
5. Google Home 0.8 7%
Rest of Total Market 4.3 36%
TOTAL 11.7 100%

10. Source: Edison Media Smart Audio Report, January 2018
What You Need to Know: Smart Speakers & Smart Devices
65% say that they wouldn’t want to
go back to life without their Smart Speaker
are using their Smart Speaker
more often than first month of owning it
(vs. 16% less often)
71% are listening to more audio since getting a Smart Speaker
Base: Had a Smart Speaker more than one month and gave a response
51%
of Smart Speaker owners say their
speaker is replacing time spent with TV
30% who are listening to more audio
said they are listening to more podcasts
28%
10

11. What You Need to Know: Smart Speakers & Smart Devices
43%
of Smart Speaker
owners would be
interested in using
skills from companies
or brands they follow
on social media.
Base: Follow any companies or
brands on social networking sites
5am-9am 9am-3pm 5pm-7pm 7pm-9pm
9pm-
Midnight
#1 Traffic
Drop in to an
Alexa device
in home
Find restaurants /
businesses
Games
Control smart
home devices
#2 Weather Add to to-do list
Recipes /
cooking
requests
Send messages
to other devices
Audiobooks
#3 News
Add to
shopping list
Order food Children stories Timer / alarms
Top 3 indexing activities by daypart
11Source: Edison Media Smart Audio Report, January 2018

12. What You Need to Know: Smart Speakers & Smart Devices
Source: Edison Media Smart Audio Report, January 2018
% saying yes
Household supplies
Electronics
Health and beauty
Pet food / supplies
Groceries
Home and garden
Baby products
51
48
45
42
28
22
58
Which of these
have you
purchased
using your
Smart Speaker?
Base: Have placed an order with Smart Speaker in the last week (13%)
12

13. What You Need to Know: Smart Speakers & Devices
AUDIO
Amazon Echo Dot (redesigned): $50
Amazon Echo Input: $35.
Amazon Echo Sub: $130
Echo Link Amp and Echo Link:
$300 Amp / $200 Link
Amazon Echo Plus (redesigned): $150
Amazon Echo Auto: $50, but the
early invite price is just $25.
AUTOHOME
Amazon Smart Plug: $25.
Amazon Basics Microwave: $60
Amazon Echo Wall Clock: $30
Ring Stick Up Cam: $180
Amazon Echo Show (redesigned): $230
Amazon Fire TV Recast: $230
VIDEO
New Alexa Products
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14. 14
What You Need to Know: Smart Speakers & Smart Devices
Find Your
Moment

15. 15
What You Need to Know
Audio
1 2 3

16. Inside Radio: IAB: Digital Audio Among Safest Advertising Opportunities.
Rishad Tobaccowala
Chief Growth Officer, Publicis Groupe
Saturation of the eyes
is naturally leading to the
colonization of the ears.”
16

17. Radio is the Top Reach Medium
Across Traditional and New Media
Source: Nielsen Comparable Metrics Reports 2Q 2017
93%
95%
92%
92%
TV SMARTPHONERADIO
88%
90%
78% 83%
90%
96%
PC TV CONNECTED
DEVICES
TABLET
50%
43%
56%
47%
56%
58%
37%37%
56%
18+ 18-34 35-49 18+ 18-34 35-49 18+ 18-34 35-49 18+ 18-34 35-49 18+ 18-34 35-49 18+ 18-34 35-49
What You Need to Know: Audio
17

18. Radio is Both Mass
Appeal and Diverse
18
97% of African
Americans
97% of Gen X
98% of Boomers 96%
of Hispanics
12+
95% of Millennials 94% of Teens
Source: Nielsen RADAR 136, March 2018 (Continental US) + Nielsen National Regional Database, Fall 2017 (Alaska &
Hawaii). Mon-Sun Mid-Mid. Weekly Cume, Audience and AQH Share.
Only medium with consistent mass reach across
all generations, demographics and ethnicities
What You Need to Know: Audio

19. 19
Share of time spent
listening to AM/FM +
Streaming Audio Services
Americans 13+
Edison Research Share
of Ear 2018
AM/FM Radio includes over the air and radio streams
Streaming Audio includes pure plays such as Pandora, Spotify, and others
Share of Time
Listening: Radio
vs. Streaming
Share of Ear
8%
8%
7%
77%
Other
AM/FM
Radio
What You Need
to Know: Audio

20. Radio Creates
Overall Campaign
Awareness Lift
20Sources: Nielsen AFI study 2015; New Research/IAB 2016 case study; series of studies by Nielsen for 4 advertisers
in BtoB, Auto Aftermarket and Motorcycles 2015-2016]
Among Radio Exposed
Adults
Four Study Summary
Newspaper
+100%
Outdoor
+92%
Magazine
+42%
PC Internet
+81%
Mobile
Internet
+261%
Direct Mail
+78%
Television
+54%
What You Need
to Know: Audio

21. Inside Radio: IAB: Digital Audio Among Safest Advertising Opportunities.
Kristina Lutz
President, ad agency Starcom
With audio specifically, we have an audience that is
actively choosing to tune-in – and beyond that –
the emotional connection with sound seems to be a
game changer in a world cluttered with visual cues.
More than ever, the idea of ‘theater of the mind’ seems
to be landing with clients and consumers alike.”
21

22. Sonic
Branding
What You Need to Know: Audio
22

23. Sources: 2) 2018 Edison Research and Triton Digital “The Infinite Dial”; Base: Base: Ever Listened to a Podcast; 3) 2018
Entercom Apple Podcast Reporting (85%-90% mean); 4) IAB and PwC FY 2017 Podcast Ad Revenue Study, June 2018
80%
of podcast listeners
listen to most or all of
the whole episode2 87%
of listeners
don’t skip ads3
US podcast advertising revenue is
expected to grow more than 110%
by 2020, to $659.0 million.
Who’s listening
to podcasts?
7 podcasts / week
Average listener
30% 12-24
32% 25-54
13% 55+
(26% of US 12+)
73m
monthly
listeners
What You Need to Know: Audio
Podcasts
Actions Taken by US Mobile Users
After Hearing a Podcast Ad, Feb 2017
% of respondents
23

24. Key
Takeaways
Podcasts are About
More than Revenue
Consider Voice’s
Impact on Your SEO
Find Your Smart
Device Moment
Develop Your
Sonic Branding
Deepen Relationships
with Your Fans
Leverage
Radio’s Reach
1 2 3
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