Terry Semel Joins SnagFilms’ Board of Directors

Former Warner Bros and Yahoo CEO/Chair deepens company’s film & web presence

Park City, UT – January 20, 2012 – SnagFilms announced today at the Sundance
Film Festival that veteran media and internet executive Terry Semel has joined the
company’s board of directors. The former Chairman and CEO of Yahoo and former
co-chairman and co-CEO of Warner Bros. will also be making an investment in
SnagFilms as the company continues to expand its digital network across platforms
and devices and expand its film library, currently featuring over 3,000 independent
titles.

“We are thrilled that Terry has agreed to join the SnagFilms board,” stated
SnagFilms founder and chairman Ted Leonsis. “Terry’s unmatched experience
and extraordinary success, including at both Warner Bros. and Yahoo, makes him
an incredible addition to our board. We look forward to his counsel as SnagFilms
continues its mission of bringing quality independent films to audiences worldwide
via new digital technologies.”

“While more great films are being made every year”, Semel noted, “it is increasingly
difficult to get indies into theaters or on TV. At Yahoo, we were one of the early
proponents of the power of content showcased through new media. SnagFilms, with
its large library and breadth of digital distribution, can help shape this next phase,
bringing great stories to broad new audiences.”

“SnagFilms is a company uniquely positioned at the intersection of great
filmmaking, changing consumer behavior and new forms of distribution,” stated
SnagFilms’ CEO Rick Allen. “Terry is a giant in both the film industry and digital
platforms; his insight and leadership will be tremendously valuable as SnagFilms
continues its rapid expansion as a high-quality entertainment provider and social
video platform.”

About SnagFilms

SnagFilms features free, sponsor-supported, on demand viewing of more than 3,000
award-winning, fiction and non-fiction titles from some of the greatest names in
film. SnagFilms’ curated collection is viewed on its own site and a digital network
of more than 110,000 affiliated sites and webpages worldwide, including partners
such as Comcast's XfinityTV.com, Hulu, the Starbucks Digital Network, IMDb, AOL/
Huffington Post, hundreds of non-profits, special interest sites and blogs — and on

over 100 devices via its applications for tablets, including Apple’s iPad (AirPlay-
enabled), Amazon’s Kindle Fire, Blackberry Playbook and other Android-based
tablets; Android smartphones; OTT platforms Roku, Boxee; and Western Digital,
connected TV and blu-ray players from Sony and Panasonic, and soon to launch on
connected devices from Samsung and Vizio. SnagFilms’ titles have been featured on
more than 3.5 billion pageviews across its network.

SnagFilms also offers selected titles via pay video on demand with Comcast and
FiOS, as well as on iTunes, Hulu Plus, Amazon, YouTube Movies, and will soon be
launching on DIRECTV and digital streaming providers VUDU, Samsung Media
Hub and XBOX Live. SnagFilms was recently named one of the fastest growing
technology companies in Washington, DC area. Gizmodo has named SnagFilms as
a “Best iPad App,” OVGuide has twice named SnagFilms a Top Site, and MovieMaker
Magazine named SnagFilms to its annual list of “50 Best Websites for Moviemakers.”

SnagFilms was founded by digital entrepreneur, documentary film producer,
professional sports teams’ owner and philanthropist Ted Leonsis, and is additionally
backed by AOL co-founder and Revolution LLC Chairman, Steve Case; philanthropist
and digital executive Jean Case; operating executive and philanthropic venture
capitalist Miles Gilburne; a group led by Ted and Jim Pedas, founders of Circle Films;
the John S. and James L. Knight Foundation; New Enterprise Associates and Comcast
Ventures.

The SnagFilms family also includes indieWIRE, for more than 15 years the web’s top
source of news, reviews and information about independent film.

Contact
Frank PR
Clare Anne Darragh (clareanne@frankpublicity.com)
Amari Hammonds (amari@frankpublicity.com)
646-861-0843