RESEARCH OVERVIEW June 2014 Updated June 26 2014

RESEARCH OVERVIEW June 2014 Updated: June 26, 2014

UK Brand familiarity: Very good -Brand is pretty well-known, and even more so among adults - About half overall have heard songs from ANNIE - Girls most likely to be big fans -Known for being family-friendly, classic -Moms, girls, and (to a lesser extent) female generals are the target; males will be tough to convert JAPAN Brand familiarity: Solid-to-good - While not as quite high as the UK, decent familiarity and favorability - Female generals likely the most gettable audience; girls and moms will need a bit more convincing - An inspirational, more character-driven approach might work best here -The music, “fun factor”, and promise of a new take on ANNIE will be key selling points FRANCE Brand familiarity: Weak -Limited profile -Most have no experience with the brand GERMANY Brand familiarity: Weak -Limited profile -Most have no experience with the brand 2

UK Source: PSB Brand study for another title unless otherwise noted. Study sampled 400 general moviegoers 13 -54 and 150 kids ages 7 -12. 3

ANNIE is a fairly well-known, female-skewing franchise in the UK. Familiarity 59 13 % Big Fan Unsurprisingly, familiarity skews female among both generals and kids. 22 17 21 Definite Interest in New Movie 71 General audiences tend to be most familiar with the franchise, but kids show higher fanship and interest in a new film, driven by girls. General Kids Moviegoers (based on title only) All Gens M <25 M 25+ F <25 F 25+ All Kids Boys Girls 400 79* 119 154 77* Very familiar 34% 20% 29% 46% 38% 32% 17% 47% Somewhat familiar 37% 28% 41% 39% 38% 27% 35% 20% NET: Very + somewhat familiar 71% 48% 70% 85% 76% 59% 52% 67% Familiarity with Annie Base *Caution: Small base sizes. Familiarity = Very + somewhat familiar. Base = all moviegoers 4

General Cinemagoers Data Ranked by Familiarity Fanship (%Big Fan) Familiarity 24 25 29 30 22 23 23 23 20 21 15 15 13 17 Definite Interest in a New Movie 66 93 16 17 57 91 14 14 55 90 10 14 51 90 9 14 88 47 9 12 73 41 9 9 71 37 6 11 Among all 5

Kids Data Ranked by Familiarity Fanship (%Big Fan) Familiarity Definite Interest in a New Movie 96 51 33 33 13 23 91 38 43 48 10 13 86 37 21 30 9 12 83 37 25 32 8 10 72 35 17 25 8 13 60 35 15 19 11 11 59 27 22 21 7 11 Among all 6

ANNIE is classic, and great for families… TOP DESCRIPTORS Family-friendly 50% Classic 36% Heartwarming 35% Has a good story 35% Has appeal for both kids and adults Entertaining Has good messages/morals 32% Looking at the top descriptors, ANNIE’S familyoriented qualities are top of mind. Negative descriptors are negligible. 29% 23% Women and girls are much more likely to endorse ANNIE with these positive descriptors. *Among aware (generals + kids) 7

…but some will need convincing that ANNIE is worthy of theatrical viewing. THEATRICAL APPEAL (% WOULD MAKE A GOOD BIG SCREEN MOVIE*) 77 74 72 65 Reaches 66% among girls 64 57 51 51 51 *Among all aware (generals + kids) 50 46 44 40 39 8

The film’s music drives engagement with the brand in the UK. Among both generals and kids, roughly half have heard songs from “Annie”. After this, most interaction with the brand comes from seeing the original 1982 film. Only 1 in 4 -5 overall have no experience with the brand. 46% I’ve heard songs from the Annie musical 39% I’ve seen the original 1982 film Annie starring Aileen Quinn, Albert Finney and Carol Burnett 12% 19% I’ve seen the musical stage show Annie Other None of the above 48% 27% 26% I’ve seen the 1999 TV movie Annie starring Kathy Bates, Victor Garber and Alicia Morton I’ve read the comic strip Little Orphan Annie 55% 6% 5% Kids 0% 1% Generals 27% 19% Among all. 9

Trailer Testing: Post Interest and Main Takeaways Girls 7 -12 Moms Interest in Taking Child General Audiences - Encouraging scores among moms and girls (driven by younger girls 7 -9) - Among general audiences, older females (25+) are also in a good place - Guys are largely un-gettable for this film; the musical genre is a main barrier - The “fun factor” and music drive interest - Annie is a popular character, and audiences look forward to seeing a fresh take 10 Source: Marketcast trailer test conducted among 300 general audience moviegoers 13 -49, 150 girls 7 -12, and 150 moms of girls 7 -12.

FRANCE Source: PSB Brand study for another title unless otherwise noted. Study sampled 400 general moviegoers 13 -54 and 150 kids ages 7 -12. 11

Compared to the UK, there’s less familiarity with ANNIE in France. Familiarity 13 3 3 % Big Fan Definite Interest in New Movie 19 Familiarity and fanship of the ANNIE franchise is limited in France. Girls are among the most familiar with the property, but it’s certainly not wellknown, even among this group. General Kids Moviegoers 5 6 (based on title only) All Gens M <25 M 25+ F <25 F 25+ All Kids Boys Girls Base 398 80 119 155 77* Very familiar 7% 10% 6% 4% 9% Somewhat familiar 12% 8% 11% 8% 7% 2% 12% NET: Very + somewhat familiar 19% 18% 24% 15% 17% 13% 6% 21% Familiarity with Annie *Caution: Small base sizes. Familiarity = Very + somewhat familiar. Base = all moviegoers 12

General Cinemagoers Data Ranked by Familiarity Fanship (%Big Fan) Familiarity Definite Interest in a New Movie 49 88 7 15 13 25 36 88 8 19 25 12 30 79 6 19 21 9 30 76 13 20 6 10 70 28 17 5 27 8 56 19 8 3 14 6 55 14 9 4 16 6 Among all 13

Kids Data Ranked by Familiarity Fanship (%Big Fan) Familiarity Definite Interest in a New Movie 92 39 33 33 8 12 83 26 22 29 8 11 81 24 32 36 5 8 63 17 15 21 4 7 61 16 12 16 2 8 43 13 8 1 3 14 41 13 10 19 3 5 Among all 14

Theatrical appeal is muted for ANNIE in France. THEATRICAL APPEAL (% WOULD MAKE A GOOD BIG SCREEN MOVIE*) 74 74 Only 1 in 3 French moviegoers who know of ANNIE think it would be a good big-screen movie 71 58 57 57 51 50 49 39 *Among all aware (generals + kids) Compare to 1 in 2 in the UK 39 39 37 34 15

Few moviegoers have any history with ANNIE. . . French audiences have limited experience with ANNIE. Fewer than 1 in 5 kids and adults have heard songs from the musical. The overwhelming majority have no experience with the brand at all. 11% 16% I've heard songs from the Annie musical I've seen the original 1982 film Annie starring Aileen Quinn, Albert Finney and Carol Burnett 5% 6% 8% I've seen the musical stage show Annie Other 13% 10% 12% I've seen the 1999 TV movie Annie starring Kathy Bates, Victor Garber and Alicia Morton I've read the comic strip Little Orphan Annie Compare to 46 -55% in the UK 4% 5% Kids 1% 1% Generals None of the above 60% Among all 75% 16

…and because they are less familiar with the brand, impressions of ANNIE are somewhat soft. Family-friendliness rises to the top. TOP DESCRIPTORS* Family-friendly 27% Entertaining 25% Classic 21% Has a good story Funny Has good messages/morals 18% 15% 12% *Among aware (generals + kids). Caution: small base size (n=72). 17

Interest in a new ANNIE movie based on Title/Star All Gens M <25 M 25+ F <25 F 25+ All Kids Boys Girls Base 398 80 119 155 77* Definitely interested 7% 9% 3% 9% 7% 2% 0% 5% Probably interested 18% 19% 18% 17% 19% 17% 21% NET: Def + Prob interested 25% 28% 22% 27% 24% 21% 17% 26% Personal Interest Taking Child Base All Parents Moms Dads 80 36* 44* Definitely interested 11% 11% Probably interested 29% 20% 36% NET: Def + Prob interested 40% 31% 47% Going hand-in-hand with low familiarity, top-box interest in ANNIE is low in France among generals, kids, and parents, even when the stars of the film are mentioned. Looking at total positive interest, parents may be the most gettable audience for this film. Among all. *Caution: Small base sizes. Title/star mentions Wallis, Foxx, Diaz, and Byrne 18

GERMANY Source: PSB Brand study for another title unless otherwise noted. Study sampled 400 general moviegoers 13 -54 and 150 kids ages 7 -12. 19

ANNIE doesn’t start with much traction in Germany; familiarity with the franchise is limited. 18 18 Familiarity % Big Fan 1 Definite Interest in New Movie Similar to France 3 Familiarity and fanship of the ANNIE franchise is relatively weak in Germany, with no clear demographic emerging as ANNIE supporters. General Kids Moviegoers 3 4 (based on title only) All Gens M <25 M 25+ F <25 F 25+ All Kids Boys Girls Base 424 85 127 165 82 82 Very familiar 6% 2% 8% 8% 5% 5% 3% 7% Somewhat familiar 12% 14% 8% 12% 13% 14% 12% NET: Very + somewhat familiar 18% 14% 22% 16% 17% 18% 17% 19% Familiarity with Annie Familiarity = Very + somewhat familiar. Base = all moviegoers 20

General Cinemagoers Data Ranked by Familiarity Fanship (%Big Fan) Familiarity Definite Interest in a New Movie 51 86 9 10 19 21 47 81 6 13 12 23 35 78 6 11 10 20 18 68 13 3 25 4 60 7 13 2 13 3 58 9 13 2 15 3 57 8 17 11 2 2 21

Kids Data Ranked by Familiarity Fanship (%Big Fan) Familiarity Definite Interest in a New Movie 91 47 36 32 9 14 81 21 30 42 7 10 81 34 21 30 9 17 69 29 18 1 3 41 55 11 16 12 4 3 52 11 15 3 3 51 10 18 10 8 3 5 22

ANNIE is mostly seen as family-friendly, with few other descriptors making much impact. TOP DESCRIPTORS Family-friendly 25% Has appeal for both kids and adults Entertaining 22% 17% Has a good story 15% Funny 15% Classic 15% Has good messages/morals 13% *Among aware (generals + kids) 23

Similar to French moviegoers, German moviegoers do not see much big-screen potential in ANNIE. THEATRICAL APPEAL (% WOULD MAKE A GOOD BIG SCREEN MOVIE*) 69 3 in 4 German moviegoers who know of ANNIE do not think it would make a good big-screen film 68 61 53 52 46 44 42 37 27 *Among all aware (generals + kids) 25 24 24

Experience with ANNIE is limited in Germany. Like the French, German audiences have had very little interaction with ANNIE, with 6 -7 out of 10 having no engagement with the brand at all. 9% I've seen the original 1982 film Annie starring Aileen Quinn, Albert Finney and Carol Burnett 12% 14% I've heard songs from the Annie musical 9% 11% I've seen the 1999 TV movie Annie starring Kathy Bates, Victor Garber and Alicia Morton I've read the comic strip Little Orphan Annie I've seen the musical stage show Annie Other 15% 6% 11% 1% 5% Kids 0% 1% Generals 68% 64% None of the above Among all 25

Interest in a new ANNIE movie based on Title/Star All Gens M <25 M 25+ F <25 F 25+ All Kids Boys Girls Base 424 85 127 165 82 82 Definitely interested 6% 2% 7% 10% 5% 4% 5% 3% Probably interested 20% 12% 17% 20% 27% 19% 15% NET: Def + Prob interested 26% 14% 24% 30% 32% 21% 24% 18% Personal Interest Taking Child Base All Parents Moms Dads 82 37* 45* Definitely interested 10% 12% 9% Probably interested 35% 38% 32% NET: Def + Prob interested 45% 50% 41% Like France, top-box interest in ANNIE among German moviegoers is muted, even when stars are mentioned. Looking at total positive interest, adult females and parents appear to be the most likely audience for this film based on just title and star. Among all. *Caution: Small base sizes. Title/star mentions Wallis, Foxx, Diaz, and Byrne 26

JAPAN 27 Source: Marketcast trailer test conducted among 300 general audience moviegoers 13 -60, 150 girls 7 -12, and 150 moms of girls 7 -12.

A sizeable percentage of Japanese auds is familiar with ANNIE, and the majority of those aware “like” the franchise. ~70% of generals and moms have heard of ANNIE 50% of girls have heard of ANNIE How much do they like ANNIE? GENERAL AUDIENCES (among aware) Love 12% Like 63% NET: Like + Love 75% Do not like so much 22% Do not like at all 4% MOMS (among aware) Love Like NET: Like + Love Do not like so much Do not like at all Female skew GIRLS (among aware) Love Like NET: Like + Love Do not like so much Do not like at all 21% 59% 80% 16% 4% Girls are most likely to say they “love” ANNIE. 13% 68% 81% 16% 3% Caveat: Different methodology used; scores not directly comparable to those from PSB study. Awareness and favorability towards ANNIE was asked after exposure to a trailer for the new Sony film. 28

While many Japanese moviegoers have heard of ANNIE, over half have never seen any version of it. Among those aware of Annie Generals Moms Girls I've only heard of ANNIE but have never seen any version of it 52% 57% 51% A live performance of the musical (opened in 1977 and still running) 28% 21% 33% 20% 13% 9% 11% 10% 11% 7% 8% 9% Annie (1982 film) starring Albert Finney as Daddy Warbucks, Carol Burnett as Miss Hannigan and Aileen Quinn as Annie (1999 film): a made-for-TV movie starring Victor Garber as Daddy Warbucks, Kathy Bates as Miss Hannigan, Alan Cumming as Rooster, Kristin Chenoweth as Lily and newcomer Alicia Morton as Annie A sequel, Annie: A Royal Adventure! made for TV starring Ashley Johnson and Joan Collins Note: Awareness asked after exposure to a trailer for the new Sony film. Among those who know of ANNIE, a solid 1 in 3 girls have seen a live performance 29

Trailer Testing: Post Interest and Main Takeaways Girls 7 -12 Moms Interest in Taking Child Red lines indicate norms General Audiences Norm - There’s some potential for ANNIE among general audiences in Japan; the trailer got a very good response among females - Moms and girls might be tricky: young girls may be mostly on board, but moms aren’t convinced their kids will like or understand the story - The inspirational story, a desire to root for Annie, and the music are top interest drivers 30