Exhibit 99.1

TVaura LLC

(A Development Stage Company)

Financial Statements

December 31, 2011 and 2010

(With Independent Auditors’ Report Thereon)

TVaura LLC

(A Development Stage Company)

Table of Contents

Independent Auditors’ Report

Members’ Committee

TVaura LLC:

We have audited the accompanying balance sheets of TVaura LLC (a development stage company) (the “Company”) as of December 31, 2011 and 2010 and the related statements of operations, members’ equity and cash flows for the years ended December 31, 2011 and 2010 and the period from June 11, 2009 (inception) through December 31, 2011. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of TVaura LLC as of December 31, 2011 and 2010 and the results of its operations and its cash flows for the years ended December 31, 2011 and 2010, and the period from June 11, 2009 (inception) through December 31, 2011 in conformity with U.S. generally accepted accounting principles.

/s/ KPMG LLP

Portland, Oregon

February 22, 2012

TVaura LLC

(A Development Stage Company)

BALANCE SHEETS

(In thousands)

See Notes to Financial Statements.

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TVaura LLC

(A Development Stage Company)

STATEMENTS OF OPERATIONS

(In thousands)

See Notes to Financial Statements.

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TVaura LLC

(A Development Stage Company)

STATEMENTS OF MEMBERS’ EQUITY

(In thousands)

See Notes to Financial Statements.

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TVaura LLC

(A Development Stage Company)

STATEMENTS OF CASH FLOWS

(In thousands)

See Notes to Financial Statements.

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TVaura LLC

(A Development Stage Company)

Notes to Financial Statements

December 31, 2011 and 2010

(In thousands)

Description of Business

TVaura LLC (“TVaura” or the “Company”) is operated as an independent company and governed by a Members’ Committee comprised of Digimarc Corporation (“Digimarc”) and The Nielsen Company (“Nielsen”), where each can elect an equal number of representatives to serve on the Members’ Committee. Each member has significant oversight and voting rights with respect to major business decisions of the Company, such that neither member has majority control over the Company’s operations, including business decisions that may affect the Company’s profitability or success in meeting its objectives.

The Company was granted to use all of Digimarc’s patents and technology not already subject to exclusive license grants to other licensees of Digimarc, and Nielsen provided, pursuant to a license, access to data services, including syndicated research and meta-data, and a license to Nielsen patents and technology.

The Company is engaged in the joint development and commercialization of copyright filtering solutions, royalty/audit systems or products for online video and audio rights to organizations, guilds or other organizations involved in reconciliation of royalties, residuals and other similar payments, other related products and other activities the members may agree. The products contemplated are still in the development stage and will require additional investment and oversight before they can be brought to market.

Basis of Presentation

The Company prepares its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”).

Under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities,” an enterprise involved in raising capital, research and development, establishing sources of supply, training personnel, and developing markets, which has not obtained significant revenue is considered a development stage company. As a development stage company, the Company employs the same GAAP as established companies and presents certain financial information from inception through the date of the financial statements.

Use of Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the U.S. requires TVaura to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Certain of the Company’s accounting policies require higher degrees of judgment than others in their application. These include impairments and estimation of useful lives of long-lived assets. TVaura bases its estimates on historical experience and on various other assumptions that are believed to be reasonable in the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

(Continued)

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TVaura LLC

(A Development Stage Company)

Notes to Financial Statements - (Continued)

December 31, 2011 and 2010

(In thousands)

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand and money market mutual funds with original maturities of three months or less. All cash and cash equivalents are held in U.S. financial institutions. Money market mutual funds with original maturities of three months or less total $398 and $771 at December 31, 2011 and 2010, respectively.

Software Development Costs

Under ACS 985 “Software,” software development costs are to be capitalized beginning when a product’s technological feasibility has been established and ending when a product is made available for general release to customers. To date, the Company’s products have not reached technological feasibility and therefore no costs have been capitalized.

Impairment of Long-Lived Assets

The Company accounts for long-lived assets in accordance with the provisions of ASC 360 “Property, Plant and Equipment.” This statement requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Fair value is determined based on discounted cash flows or appraised values, depending on the nature of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Through December 31, 2011, there have been no such impairment losses.

Research and Development

Research and development costs are expensed as incurred as defined in ASC 730 “Research and Development.”

Income Taxes

The Company is a limited liability company and, accordingly, is generally not liable for state or federal income taxes since income or loss is reported on the separate tax returns of the members.

Property and equipment are stated at cost. Repairs and maintenance are charged to expense when incurred.

Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, generally two to seven years.

(Continued)

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TVaura LLC

(A Development Stage Company)

Notes to Financial Statements - (Continued)

December 31, 2011 and 2010

(In thousands)

The Company is subject from time to time to other legal proceedings and claims that may arise in the ordinary course of business. Currently, the Company is not involved in any litigation matters.

The following tables represent related party transactions:

In accordance with ASC 855 “Subsequent Events,” the Company is required to evaluate subsequent events through the date on which subsequent events have been evaluated for disclosure. Subsequent events were evaluated through February 22, 2012.

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