。 #FreeWheelVMR/Q3 2018/FREEWHEEL VMR2The FreeWheel Video Monetization Report highlightsthe changing dynamics of how enterprise-class contentowners and distributors are monetizing premium digitalvideo content.The data set used for this report is one of the largestavailable on the usage and monetization of professional,rights-managed video content worldwide, and is basedoff of census-level advertising data collected through theFreeWheel platform.Video Monetization Report TABLE OF CONTENTS Q3 2018 Q3 2018 Summary PAGE 3Core Observations: U.S.PAGE 7Core Observations: EuropePAGE 15Author BiosPAGE 21GlossaryPAGE 22 #FreeWheelVMR/Q3 2018/FREEWHEEL VMR3MVPDs Drive Premium VideoGrowth in the U.S. Publishers, operators and the supporting ecosystem enabled more content via MVPD IP-enabled platforms and set-top-boxes, as well as through aggregator portals, to drive growth in Q3 2018. Syndicated ad views comprised 40% of all ad views and grew by 31%, outstrippingthe growth of ad views on owned and operated(O&O) platforms.Taking a closer look at syndication, IP-deliveredMVPD ad views have scaled rapidly, with a growthrate of 87% YOY. The offerings of traditional cablecompanies eclipsed virtual MVPD ‘skinny bundles’with 78% ad view share versus 22%, though virtualMVPD ad views grew 147%, almost double the rateof traditional MVPDs. IN Q3 2018, MULTICHANNEL VIDEO PROGRAMMING DISTRIBUTOR (MVPD) IP-ENABLED PLATFORM AD VIEWS grew 87% year-over-year, helping propel the full U.S. market to growth of 26%. Europe also saw solid ad view growth of 19% despite some U.S. based publishers acting cautiously in light of GDPR. We examine these and other quarterly trends in this report, enjoy the read! A Bundle of Growth Q3 2018 SUMMARY CHART 1Top Line Growth and Break-Out of Ad Views by Syndication Platform, U.S. Q3 2018 Distribution Type OWNED & OPERATED SYNDICATED MVPD (IP Platforms)BreakdownSyndication Platform MVPD (IP PLATFORMS) MVPD (STB PLATFORMS) PORTALS 25% 40% 41% 34%60% +87% YOY+31% YOY78% +75% YOY+11% YOY+38% YOY +19% YOYvMVPD 22% +147% YOYTRADITIONAL MVPD#FreeWheelVMR/Q3 2018/FREEWHEEL VMR4Q3 2018 SUMMARY CHART 3 Ad View Composition and Growth, by Device, U.S. Q3 2018 -4% YOY Desktop 16% +45% YOYOTT 41% +63% YOYSmartphone 19% +12% YOY Tablet 7% +11% YOYSTB VOD 17% Live content tends to over-index on MVPD platformsand constituted 59% of total ad views, verses a 33%share across all platforms. 67% of total MVPD IP- enabled viewing is via over-the-top (OTT) devices,which is exactly the kind of lean-back and engagedviewing advertisers are seeking. The smartphoneaccounts for 68% of long-form MVPD-syndicated adviews, further emphasizing the device’s versatility and ubiquity. Live content ad views grew strongly year-over-year,even though they garnered a slightly smaller sharethan previous quarters due to fewer marquee sportingevents like the Super Bowl. Ad views against clipsdeclined by 20% despite clip video views continuingto grow, suggesting moves by inventory owners tolimit the amount of ads placed against short-formcontent. Smartphone and OTT device growth outstripped allother devices at 63% and 45% respectively, markingthem out as the platforms viewers are trendingtowards. The combined ad view share of both devicesnow makes up 60% of all ad views. CHART 2Ad View Composition All Platforms vs MVPD (IP-Platforms) Syndicated, U.S. Q3 2018 CLIPS (0-5MIN.)FULL-EPISODES (5+ MIN.)LIVE 11%56% 41%59% ALL PLATFORMS MVPD SYNDICATED 33% +56% YOY+99% YOY +76% YOY+27% YOY -20% YOY。。。。。。