Global mobile entertainment forecast 2014 presentation, 2009 2019 by IE Market Research Corporation

IE Market Research Corporation 3Q.2014 Global Mobile Entertainment Market Forecast, 2009-2019

Table of Contents Introduction: Forecast Methodology & Coverage Global Market Review Subscriber Connections

3 10

Regional Overview:

•

North America

•

South and Central America

•

Western Europe

•

Eastern Europe

•

Asia-Pacific

•

Middle East and Africa

Disclaimers and Disclosures

Introduction: Forecast Methodology & Coverage

Introduction: Forecast Methodology & Coverage This report provides IE Market Research Corporation's (IEMR) quantitative historical estimates and future forecasts for the Global Mobile Entertainment Market. Based on interviews with firms in the mobile entertainment ecosystem, we divide the Mobile Entertainment market into five categories:  Mobile Music  Mobile Gaming  Mobile Personalization

 Mobile TV; and  Other Premium Mobile Content such as pay-per-view content and paid alert services. IEMR’s estimates are based on both demand-side on-line consumer surveys and supply-side on-line interviews with executives in any given ecosystem. Demand Side  We undertake detailed on-line surveys at the country level in the "IEMR 50" list of countries where we undertake primary field surveys based on our quarterly Global Consumer Telecommunications Survey. This survey looks at telecommunications usage and trends of 50,000 consumers in these 50 markets which represent over 80% of the world's population and 85% of the world's mobile subscriber base. Conducted in quarterly waves, IEMR's Global Consumer Telecommunications Survey measures trends in fixed and mobile telecoms usage among consumers in the "IEMR 50" countries and is the most comprehensive survey of its kind in the world.  These surveys are “conditioned” by supply side interviews that we conduct with leading companies in any given ecosystem. We provide these companies with our global and regional estimates and ask them standard questions about their thoughts on past estimates at the global and regional levels and their insights on the future growth rates both globally and in any given market. These supply side interviews are done after the demand side estimates are produced and may change the demand side estimates established by IEMR.

 In this sense, our estimates and forecasts are not “Analyst” estimates but can be construed as being “Market” estimates since we include both demand and supplyside considerations in our methodology.

Introduction: Forecast Methodology & Coverage Supply Side  In the “Survey Questionnaire” Tab available to clients that purchase our Mobile Entertainment Forecast, we outline further details about our Global Consumer and our Global Enterprise Telecommunication Surveys. We also provide the actual on-line questionnaires (demand-side) that were administered in these 50 countries for this report.  Based on these parameters, we create time series models for each of the output variables and optimize the model for historical data points.  The time series models are then used to generate 5-year forecasts which are reviewed and adjusted by IEMR's Forecast Committee and presented in this report. We then provide these forecasts to leading vendors, operators, service providers for feedback and the models are adjusted based on this feedback.

Introduction: Forecast Methodology & Coverage IEMRâ&#x20AC;&#x2122;s Global Consumer Telecommunications Survey ď&#x201A;§ IEMR's Global Consumer Telecommunications Survey is a quarterly on-line survey of telecommunications usage of 50,000 consumer panelists in "IEMR-50" list of countries where we undertake primary field surveys. This is the largest survey of its kind in the world. Given that the Global Consumer Telecommunications Survey is an on-line survey, clients are asked to keep the following considerations in mind when interpreting IEMR's data: 1. For developed markets in North America, Western Europe, and Asia-Pacific, the representativeness of the results is broadly valid. Given that on-line penetration in these markets is extensive, the demographic and psychographic information as well as trend information we put forward in our forecasts should be broadly representative of the demand-side trends in these markets. 2. For emerging markets, because on-line penetration is limited to urban areas and to middle- and upper-income families in these areas, our estimates are representative of these demographics in emerging markets. In our demand-side estimates, IEMR does not make any adjustments to extrapolate to national figures from survey figures. For example, if our survey shows that 10% of urban Chinese have downloaded paid music over mobile networks, our national estimate extrapolates to the urban China market rather than the national China market. Further, in most emerging markets (except China), the survey was conducted in English and not the native tongue of the overall population, further re-enforcing our methodology not to extrapolate the results to the overall market in these markets. In the "Survey Demographics" Tab, we provide more information on IEMR's Global Telecommunications Survey, including countryspecific sample sizes, margins of error, languages in which the survey was conducted and key demographic statistics for each country.

Introduction: Forecast Methodology & Coverage IEMR’s Global Enterprise Telecommunications Survey  IEMR's Global Enterprise Telecommunications Survey is a quarterly on-line survey of 10,000+ executives that work in the telecommunications value chain. IEMR divides this value chain into four distinct components-- operators, infrastructure vendors, device vendors, and service providers. For each of these verticals and in each sub-vertical, IEMR conducts specific interviews with strategy executives, product managers, project managers, network architects, CIOs, CTOs etc. on trends in their vertical and subverticals. These form the basis of supply-side guidance provided to us by the ecosystem and condition the global / regional / and country-specific estimates provided by IEMR.  For this Global Mobile Entertainment Forecast, we have interviewed executives from the following companies: Rhapsody, Verizon Wireless, Google, T-Mobile USA, Digicel, ROK Global, Grupo.Mobi, Telefonica, Research in Motion (BlackBerry), Movistar, MTS, Bharti Airtel, China Mobile, DeNa, NTT DoCoMo, and KDDI.

Country Coverage North America: Canada United States

Western Europe: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom Eastern Europe: Czech Republic, Hungary, Poland, Russia, Ukraine, Rest of Eastern Europe

Asia-Pacific: Australia China India Indonesia Japan Malaysia New Zealand Philippines Singapore South Korea Taiwan Thailand

South and Central America: Argentina Brazil Chile Colombia Mexico Peru Venezuela

Middle East and Africa: Algeria, Egypt, Israel, Morocco South Africa, Turkey

Source: IE Market Research Corporation

Forecast Methodology and Coverage Inputs Estimates and growth rates of mobile music, mobile gaming, mobile personalisation, mobile TV, Other Premium content based on IEMR's Global Consumer Telecommunications Survey Panel

Outputs

Model One year outlook in Global Consumer Telecomm. Panel provides short-term demand side basis of the forecast

Mobile Music Users Mobile Music Retail Revenues Mobile Music Wholesale Revenues Average Revenue per User for Mobile Music Mobile Gaming Users Mobile Gaming total events Mobile Gaming Revenues Average Revenue per User for Mobile Games

Supply Side surveys and interviews provide longer-term regional / global roadmaps and growth rates of Mobile Entertainment usage in key markets

Mobile Personalisation Users Mobile Ringtone Users Mobile Ringbacktone Users Mobile Wallpapers and Graphics Users Mobile Personalisation Revenues Average Revenue per User for Mobile Personalisation services

Vendor and Operator interviews based on IEMR's Global Enterprise Telecommunications Survey Panel provide more nuanced roadmaps

Mobile TV Users Mobile TV Revenues Average Revenue per User for Mobile TV IEMR's Global Mobile Operator Forecast used as benchmarks.

Total users of mobile premium content Average Revenue per User for Mobile Premium Content Total Revenue for Mobile Premium Content

Source: IE Market Research Corporation

Global Market Review

Global View Revenues ($ Billions) 4.5%

$0.8

Mobile TV

$1.4

$3.0

Mobile Music

Premium Content*

$6.3

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

871 million 536 million 440 million 178 million Asia Pacific 27%

Eastern Europe 6%

52.7%

Mobile Personalization

15.7%

$0.3

2.9%

24.2%

Mobile Gaming

Users

2Q.2014

Source: IE Market Research

South and Central America 7%

Mobile Music Mobile Gaming Mobile Personalization Mobile TV North America 28%

Middle East and Africa 4% Western Europe 28%

Global Market Revenues to rise to $61.6 billion Global Mobile Entertainment Market will continue to expand over the next several years with Mobile TV revenue rising to $9.7 billion in 2019

 Among different categories of mobile entertainment, we expect that Mobile TV will see the biggest growth in revenues over the next five years. We forecast that global Mobile TV revenues will increase from $5.7 billion in 2014 to $9.7 billion in 2019, a CAGR of 10.4%. The major factor impacting this strong forecast is the fact that a number of carriers have now come out with Mobile TV-based data plans which have received traction among consumers both in North America and Western Europe.  We expect stable growth in Mobile Music and Gaming. However we expect Mobile Personalization revenue to decrease from $3.2 billion in 2014 to $2.8 billion in 2019. 12 © 2014 IE Market Research Corp.

$70,000 $60,000

Revenues ($ millions)

 Globally, we are expecting Mobile Entertainment revenue to rise from $47.8 billion in 2014 to $61.6 billion in 2019. We are forecasting a Compound Annual Growth Rate (CAGR) from 2015 to 2019 of 5.1%.

Chart 1: Global Mobile Entertainment Market Revenues by Category, 2013-2019F

Mobile Music Revenue

$50,000 Mobile Gaming Revenue $40,000 $30,000 $20,000

Mobile Personalisation Revenue

Mobile TV Revenue

$10,000 $0

Other Premium Content Revenue

Source: IE Market Research Corporation

Mobile TV Users to reach 278 Million in 2019 Chart 2: Global Mobile Entertainment Users by Category, 2013-2019F 4,000,000

Globally, Mobile TV users will rise to 278 million in 2019, the fastest-growing mobile entertainment category. Mobile Music remains the largest category of users.

 With 88 million Mobile TV users in 2019 Western Europe will make up the largest Mobile TV market in the amount of users.  Globally the largest category of users will be Mobile Music with 1.31 billion users in 2019, a CAGR of 7.2% from 2015 - 2019.

Mobile Music Users

3,000,000 Total Users (000s)

 In terms of the numbers of users, we forecast the fastest growing category within the mobile entertainment market to be Mobile TV. We expect that Mobile TV users will rise from 187 million users in 2014 to 278 million in 2019, for a CAGR of 7.9%.

3,500,000

2,500,000

Mobile Gaming Users

2,000,000 1,500,000 1,000,000

Mobile Personalisation Users

Mobile TV Users

500,000 0

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

South and Central America Revenues ($ Millions) $29

3.8%

Mobile Gaming

$32

4.1%

Premium Content*

$242

$418

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

31.2%

Mobile Music

$54

72 million 58 million 46 million 12 million Mexico 24% Colombia 7%

Source: IE Market Research

Mobile Music Mobile Gaming Mobile Personalization Mobile TV Peru 5% Venezuela 9%

Argentina 12%

53.9%

Mobile Personalization

7.0%

Mobile TV

Users

2Q.2014

Brazil 37%

Chile 6%

South and Central America: The fastest growing regional mobile entertainment market Chart 6: South and Central America’s Mobile Entertainment Market Revenues by Category, 2013-2019F

With a total CAGR of 6.0% South and Central America is the fastest growing mobile entertainment market in the world.

Still the segment that will be expanding most rapidly in South and Central America is Mobile TV. We forecast that Mobile TV revenues in the region will increase to $209 million in 2019, for a CAGR of 11.0% over the next five years.  With total revenues of $1.66 billion in 2019 Brazil’s mobile entertainment market will continue to be the largest in South and Central America followed by Mexico with total revenue of $1.07 billion in 2019.

$4,500.00

$4,000.00 $3,500.00 Revenues ($ millions)

 Total mobile entertainment revenues will rise to $4.2 billion in 2019 from $3.1 billion in 2014. The reason for this increase is primarily Mobile Music. Based on our survey data, we are forecasting this segment to increase much faster in South and Central America (CAGR of 6.0%) than in any other region.

Mobile Music Revenue

Mobile Gaming Revenue

$3,000.00 $2,500.00

$2,000.00 $1,500.00

Mobile Personalisation Revenue Mobile TV Revenue

$1,000.00 $500.00

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

Western Europe Revenues ($ Millions) 3.0%

$266

Mobile TV

$581

Mobile Music

Premium Content*

$281 $2078

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

17.5%

Mobile Personalization

8.0%

30 million 52 million 58 million 59 million Rest of Western Europe 20%

8.5%

$101

UK 16%

62.8%

Mobile Gaming

Users

2Q.2014

Mobile Music Mobile Gaming Mobile Personalization Mobile TV Denmark 2% France 14%

Germany 21%

Switzerland

3% Source: IE Market Research

Spain 9%

Italy 15%

Western Europe: Largest Regional Mobile TV and Gaming Market Western Europe's Mobile Entertainment Market will remain the largest market for Mobile TV and Mobile Gaming over the next five years.

Chart 7: Western Europe’s Mobile Entertainment Market Revenues by Category, 2013-2019F $18,000.00

Total mobile entertainment revenue in Western Europe will rise to $17 billion in 2019, up from $13 billion in 2014.

Mobile Gaming revenue will rise to $446 million in 2019 from $320 million in 2013.  Our interviews with operators and consumer surveys indicate that Denmark will be the fastest growing market in Western Europe. We expect that total revenue in Denmark’s mobile entertainment market will rise to $440 million in 2019 (CAGR of 6.1% from 2015 to 2019).

$14,000.00 Revenues ($ millions)

Mobile TV revenue will increase to $3.4 billion in 2019 (a CAGR of 10.7%).

$16,000.00

Mobile Music Revenue

Mobile Gaming Revenue

$12,000.00 $10,000.00

$8,000.00 $6,000.00

Mobile Personalisation Revenue Mobile TV Revenue

$4,000.00 $2,000.00

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

Eastern Europe Revenues ($ Millions)

Mobile TV

$44

Mobile Music

Premium Content*

$70

$471

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

6.5%

Mobile Personalization

$61

9.1%

36 million 61 million 64 million 14 million Rest of Eastern Europe 15%

10.4%

$23

3.4%

Mobile Music Mobile Gaming Mobile Personalization Mobile TV Czech Republic 6% Hungary 5% Poland 14%

70.4%

Mobile Gaming

Users

2Q.2014

Ukraine 16% Source: IE Market Research

Russia 44%

Eastern Europe Market Revenues to rise to $3.2 billion Chart 8:Eastern Europe’s Mobile Entertainment Market Revenues by Category, 2013-2019F

Total revenue in the Eastern European mobile entertainment market to reach $3.2 billion in 2019 from $2.7 billion in 2014.

Our interviews with companies in the mobile entertainment value chain suggests that the recent crisis in Ukraine may have a negative impact on the overall growth of the regional market, particularly in Russia and Ukraine as consumers reduce consumption of entertainment services. We are forecasting Mobile TV revenues in Eastern Europe to rise to $283 million in 2019 (a CAGR of 8.8%). The Average Spend per Event will be $0.67 by far lower than the global average.

$3,500.00 Mobile Music Revenue $3,000.00

Revenues ($ millions)

Russia is the largest market in the region with an estimated total revenue of $1.2 billion in 2014. We expect the Russian market to rise to $1.4 billion in 2019, making up nearly half of the Eastern European mobile entertainment market.

$2,500.00

$2,000.00

$1,500.00

Mobile Gaming Revenue

Mobile Personalisation Revenue Mobile TV Revenue

$1,000.00

$500.00

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

Asia-Pacific Revenues ($ Millions) $178

Mobile TV

$221

Mobile Music

Premium Content*

$1409 $1380

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

6.7%

Mobile Personalization

5.4%

597 million 271 million 194 million 42 million Rest of Asia-Pacific 19%

43.2%

$68

2.0%

Malaysia 6%

41.4%

Mobile Gaming

Users

Japan 40% Source: IE Market Research

2Q.2014

Mobile Music Mobile Gaming Mobile Personalization Mobile TV Australia 6% China 14%

India 9% Indonesia 6%

Asia Pacific is still by far the largest regional Mobile Music Market With estimated revenues of $6.8 billion in 2019, we expect Asia Pacific to remain by far the largest regional Mobile Music Market. Growth in the number of users is the primary factor contributing to this, while ARPU are expected to decrease to $4.88 (a CAGR of -3.4%).

 We expect that total revenue in India’s mobile entertainment market will rise to $1.7 billion in 2019, up from $1.15 billion in 2014 (CAGR of 7.6% from 2015 - 2019).  The largest market in the region will continue to be Japan with its total mobile entertainment revenue rising from $5.3 billion in 2014 to $6.2 billion in 2019.  We expect total users in China’s mobile music market will rise to 362 million in 2019, up from 242 million in 2014 (an increase of 8.1% from 2015-2019). 26 © 2014 IE Market Research Corp. All rights reserved.

$18,000.00 $16,000.00 $14,000.00 Revenues ($ millions)

 Total revenue in the Asia Pacific Mobile Entertainment Market will rise to $16.6 billion in 2019, for a CAGR of 4.7%. Among the countries covered, India remains the fastest growing market in the region.

Chart 9: Asia Pacific Mobile Entertainment Market Revenue by Category, 2013-2019F Mobile Music Revenue

Mobile Gaming Revenue

$12,000.00 $10,000.00 $8,000.00 $6,000.00

Mobile Personalisation Revenue Mobile TV Revenue

$4,000.00 $2,000.00

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

Middle East and Africa Revenues ($ Millions)

Mobile Music

Premium Content*

$32

$93

$296

* Premium content includes data services such as alerts, branded news and information services, gambling services, social media services, mobile applications, mobile advertising, etc.

6.7%

Mobile TV

$39

8.2%

54 million 53 million 41 million 9 million

Mobile Music Mobile Gaming Mobile Personalization Mobile TV Algeria 9%

19.5%

Mobile Personalization

$15

3.1%

Eygpt 5% Rest of MEA 37%

62.3%

Mobile Gaming

Users

2Q.2014

Israel 8% Morocco 6% Turkey 25%

Source: IE Market Research

South Africa 10%

Middle East and Africa Mobile Multimedia Market lags behind other regional markets The mobile entertainment market in the Middle East and Africa is not yet mature, and we expect relatively slower growth in this market over the next several years. Considering total mobile entertainment market revenues in this region the CAGR of 4.5% is below the global average.

In Middle East and Africa, Turkey will continue to be the largest market in our coverage. We expect that total revenues in Turkey’s mobile entertainment market will rise to $617 million in 2019, for a CAGR of 5.4% over the next five years.  As with all other regional markets, we see higher growth in the Mobile TV category compared to Mobile Gaming, Mobile Personalization, and Mobile Music. In Middle East and Africa, we forecast that Mobile TV revenue will increase from $130 million in 2014 to $213 million in 2019.

$3,000.00 Mobile Music Revenue $2,500.00 Revenues ($ millions)

We forecast that total revenues will rise from $1.9 billion in 2014 to $2.4 billion in 2019.

Chart 10: Middle East and Africa Mobile Entertainment Market Revenues by Category, 2013-2019F

Mobile Gaming Revenue $2,000.00

$1,500.00

$1,000.00

$500.00

Mobile Personalisation Revenue Mobile TV Revenue

Other Premium Content Revenue

$0.00

Source: IE Market Research Corporation

Order Form – FOR YOUR COPY OF IEMR’S GLOBAL MOBILE ENTERTAINMENT FORECAST You can place your order in the following alternative ways: 1. Place your order online in our web shop at www.iemarketresearch.com 2. Email your order to: customercare@iemarketresearch.com 5. Phone us at: +1 604 876 4367

Family/Surname

First Name

Address

Telephone

Fax

 Single-User License (Global) . . .

$2,995.00

 Multi-User License (Global). . . .

$7,487.50

 Single-User License (Regional) . . $1,995.00  Multi-User License (Regional). . . $4,987.50  Single-User License (Country) . . . . $500.00  Multi-User License (Regional). . . $1,250.00 I want the following Country / Regional Forecasts:

Position

Company

Country

Postal Code

Please charge my credit card

□ VISA □

Mastercard

□ American Express

Card number

Expiry date (MM/YY)

Cardholder’s name

Signature

CV code

Billing address Postcode

Country

□ We enclose our cheque payable to IE Market Research Corporation □ Please invoice me Signature

Date

Disclaimers and Disclosures

Disclaimers and Disclosures The opinions expressed in this report are the true opinions of the analyst(s) and IE Market Research Corp. (IEMR) about the firm(s) and/or industry appearing in this report. Any “forward looking statements” are the best estimates and opinions of the analyst(s) and IEMR based upon information that is publicly available and that the analyst(s) and IEMR believes to be correct. There is no guarantee that forecasts appearing in this report will materialize. The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including total revenues of IEMR, a portion of which are or have been generated by consulting and contract research activities undertaken by IEMR for firm(s) appearing in this report. The analyst(s) and/or IEMR does not own any shares of the firm(s) appearing in this report, does not make or offer for sale shares of the firm(s) appearing in this report, and does not have any investment banking business with firm(s) appearing in this report. IEMR may have been contracted by firm(s) appearing in this report to undertake competitive intelligence, business strategy, market research, branding research, and/or public opinion research activities. No part of the compensation of the responsible analyst(s) named herein is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the responsible analyst(s) in this report. Forward Looking Statements This report contains forward looking statements. Forward looking statements regarding firm(s) inherently involve risks and uncertainties that could cause actual results to differ from such forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, continued acceptance of the firm(s)’ products/services in the marketplace; acceptance in the marketplace of the firm(s)’ new products/services; competitive factors; new products/services introductions by others; technological changes; dependence on suppliers; mergers and acquisitions; systematic risks and other risks discussed in the firm(s)’ periodic report filings, including interim reports, annual reports, and annual information forms filed with the appropriate securities regulators. By making these forward looking statements, the analyst(s) and IEMR undertake no obligation to update these statements for revisions or changes after the date of this report. Warranties The information contained in this report has been compiled by IEMR from sources believed to be reliable, but no representation or warranty, express or implied, is made by IEMR or any other person as to its accuracy, completeness or correctness. IEMR does not make any warranties, expressed or implied, as to results to be obtained from using this information and makes no express or implied warranties or fitness for a particular use. Clients using this report assume full responsibility for whatever results they obtain from whatever use the information was put to. To the full extent permitted by law neither IEMR nor any other person accept any liability whatsoever for any direct or consequential loss arising from any use of this report or the information contained herein.

Disclaimers and Disclosures Dissemination of Research IEMR endeavours to make all reasonable efforts to provide research simultaneously to all eligible clients. However, IEMR’s premium clients may have access to IEMR research prior to research being disseminated more widely. IEMR’s research is posted to our proprietary website to ensure eligible clients receive intelligence in a timely manner. Additional distribution may be done by IEMR’s sales personnel via email, fax or regular mail. Clients may also receive our research via third party vendors. Please contact our research department at 1-888-322-IEMR for more information regarding our research. Licensing Agreement Any survey data, forecasting data, and research reports and the information contained therein are the intellectual property of IEMR, and permission to use the same is granted on a single-user or multi-user basis to all Clients. IE Market Research Corp. will not distribute in any way, shape, or form results of contract research that would, in any way, harm the competitive position of its Client. IE Market Research Corp. will be entitled to the copyright in all reports and other documents or electronic media produced by it in connection with work undertaken independently of any Client contract. In performing services, IE Market Research Corp. may use without limitation any of its property including hardware, software, IE Market Research Corp.’s proprietary products and confidential information and trade secrets of IE Market Research Corp. Such property will remain the property of IE Market Research Corp. and the Client shall acquire no right or interest in it. IEMR’s licensing agreement is perhaps the most liberal in the industry. Two licensing options are available for our Clients: • Single-user License: Allows Clients to read, print, and distribute printed copies of IEMR survey data, forecasting data, and research reports (and all purchased elements therein) within the Client’s organization, provided that IEMR is cited as the source. Clients are also allowed to use and manipulate this data for their internal corporate purposes, provided that IEMR is cited as the source. A Single-user License does not give the Client the right to electronically distribute IEMR survey data, forecasting data, and research reports to any other individual either within an organization or outside it. • Multi-user License: Allows Clients to read, print, and distribute printed and electronic copies of IEMR survey data, forecasting data, and research reports (and all purchased elements therein) within the Client’s organization, provided that IEMR is cited as the source. Clients are also allowed to use and manipulate this data for their internal corporate purposes, provided that IEMR is cited as the source. A Multi-user License does not give the Client the right to distribute IEMR survey data, forecasting data, and research reports to other individuals outside the Client’s organization. CONSUMEREADY™ and EXPORTREADY™ are registered trademarks of IEMR. Reproduction of material contained herein, in whole or in part or use for any public purpose is only permitted with the prior approval of IEMR. Courtesy copies of reproduced material are appreciated. Electronic reuse of the data contained herein is strictly prohibited. © 2014 IE Market Research Corp. All rights reserved.