Source: CAB Analysis of Nielsen data; Feb of each year.

11% 11%9%

5%

'11 v. YAG '12 v. YAG '13 v. YAG '14 v. YAG

Percent Growth Of DVR Penetration v. Prior Year (% of U.S. TV HHs)

DVR Penetration Is At 48%; One in Two Households Do Not Own A DVR

48%

DVR Growth Is Slowing and Nearing Its Maturity

’10 ’11 ’12 ‘13 ’14DVR Penetration 34.2% 38.0% 42.1% 45.7% 47.9%