$ARB will have a digital service when the customers are ready to embrace it. Log file data comes from customer.

$ARB programming vs research fight for customers, more difficult to get people to participate. low single digit pressure on cost of data

$ARB ratings credibility is critical, demographics are difficult on set top boxes, sample size increases are expensive, quality is critical

$ARB radio is growing, healthy audience and engagement, 2008 was a big hit, leverage hurt the radio players (8-10x) - liquidity event helped

$ARB cautious 2H11, seeing modest dip is discretionary services... 3Q11 ended more positively than it began. Radio to grow in 2011.

$ARB has tremendous visibility due to long term contracts. VIA and nielsen dispute - no com (not enough info) TV- will provide supplemental

$ARB 2010 increase in margins, 2011 continued due to PPM. recruit cell phone and household will limit margin increases. EBITDA 30% range

$ARB calls PPM high quality sample, 500 people with mobile downloads, web based reporting tool is new, CNBC signed up, ESPN renewed

$ARB mobile measurement is key, bought 2 companies in space. Smartphone will be device of choice. PPM travels with consumer, its passive

$ARB streaming content measurement, diary PPM and sever log data for total footprint. cross platform (consumption pie is increasing)

$arb maintain PPM and diary as gold standard, moving beyond radio space. 70K PPM users and looking for new revenue streams

$ARB scarborough is 9% of rev, software tools to mine the data 9% and intl and other is the balance.

$ARB radio ratings 80% of revenue come from those rating 284 markets, top 48 use PPM. 75% of rev is local.

Will be providing notes from $CARB, $ARB and $LOGM in the am tomorrow... then $QNST, $P and $RLOC -- full day on tap.