MARKET AND INDUSTRY DATA
This Annual Report contains industry, market, and competitive position data that are based on the industry publications and studies conducted by third
parties listed below as well as our own internal estimates and research. These industry publications and third-party studies generally state that the information
that they contain has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information.
While we believe that each of these publications and third-party studies is reliable, we have not independently verified the market and industry data obtained
from these third-party sources. While we believe our internal research is reliable and the definition of our market and industry are appropriate, neither such
research nor these definitions have been verified by any independent source.
References to our "659 million followers" are based on a survey conducted by Kantar Media (a division of WPP plc) in 2011 and paid for by us. As in the
survey conducted by Kantar Media, we define the term "followers" as those individuals who answered survey questions, unprompted, with the answer that
Manchester United was either their favorite football team in the world or a football team that they enjoyed following in addition to their favorite football
team. For example, we and Kantar Media included in the definition of "follower" a respondent who either watched live Manchester United matches, followed
highlights coverage or read or talked about Manchester United regularly. Although the survey solicited unprompted responses, we do not distinguish
between those respondents who answered that Manchester United was their favorite football team in the world and those who enjoy following Manchester
United in addition to their favorite football team. Since we believe that each of our followers engage with our brand in some capacity, including through
watching matches on television, attending matches live, buying retail merchandise or monitoring the team's highlights on the internet, we believe identifying
our followers in this manner provides us with the best data to use for purposes of developing our business strategy and measuring the penetration of our
brand. However, we expect there to be differences in the level of engagement with our brand between individuals, including among those who consider
Manchester United to be their favorite team, as well as between those who enjoy following Manchester United. We have not identified any practical way to
measure these
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differences in consumer behavior and any references to our followers in this Annual Report should be viewed in that light.