24/7 Streaming ChannelA DIGITAL TV STATION FOR 2017

A Brief Timeline …

2012

Video Initiative

2013

Roku App

2014

FireTV App

2015

Apple TV App

TV Everywhere App

2016

24/7 Streaming Channel

What is a 24/7 Streaming Channel? It’s Not VOD

VOD is … Video-On-Demand

User Controlled

Low Viewing Time

High Inventory

Low Rates

What is a 24/7 Streaming Channel?24/7 Streaming Channel Publisher Controlled

High Viewing Time

Limited Inventory

High Rates

What is a 24/7 Streaming Channel?

Market Opportunity The audience has shifted

73.8

88.792.5 94.9 96.3 97.7

60.7%

72.5% 75.1% 76.6% 77.3% 77.9%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

0

20

40

60

80

100

120

2015 2016 2017 2018 2019 2020Connected TV households % of total households

Source: eMarketer, Oct 2016

Market Opportunity

Source: eMarketer, Oct 2016

15%

17%

20%

23%

27%

30%

16%16%

18%

20%21%

23%

9%

15%

19%

22%

25%27%

12%11% 12% 12% 13% 13%

2015 2016 2017 2018 2019 2020

Select US Connected TV Users by Device% of total connected TV users

Google Chromecast Roku Amazon Fire TV Apple TV

Revenue Opportunity 30 Second Spots

32 Spots Per Hour

24 Hours Per Day

768 Spots Per Day

365 Days Per Year

280,320 Spots Per Year

Revenue Opportunity 280,320 Spots Per Year

$1 Per Spot Average

$280,320 Revenue Opportunity

Revenue Opportunity 280,320 Spots Per Year

$5 Per Spot Average

$1.4MM Revenue Opportunity

Goals Follow the audience

Extend the brand

Limit our risk (expense) Turned copy editors into TV producers

Master Schedule

Video Content

Commercials

Transcoder

Playout Server

Bucks County Courier Times TV

Looking Forward

News Programming

Additional Brand

Launches

Additional OTT

Platforms

Cable Carriage?

Thank You! Mike Jameson

mjameson@calkins.com

@mgjameson

/mike-jameson-a432aa51

Jake Volcsko

jvolcsko@calkins.com

@JakeVolcsko

/jakevolcsko