FashionTelevisionChannel (formerly Fashion Television ...)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305423931 FashionTelevisionChannel (formerly Fashion Television ...) Bell Media Inc. BCE Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 1,982,820 1,938,652 -2.23 1,862,934 -3.91 1,977,045 6.13 2,123,201 7.39 1.7
DTH revenue 2,402,882 2,309,549 -3.88 2,637,978 14.22 2,626,040 -0.45 2,388,529 -9.04 -0.2
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 329,690 276,905 -16.01 287,998 4.01 254,931 -11.48 172,552 -32.31 -14.9
Other revenue 29,712 72,369 143.57 30,870 -57.34 6,977 -77.40 2,396 -65.66
Total Revenue 4,745,104 4,597,475 -3.11 4,819,780 4.84 4,864,993 0.94 4,686,678 -3.67 -0.3

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 827,236 703,839 -14.92 1,478,328 110.04 942,515 -36.24 2,313,767 145.49 29.3
Technical 419,029 435,550 3.94 465,068 6.78 446,757 -3.94 439,741 -1.57 1.2
Sales and Promotion 80,588 79,490 -1.36 75,073 -5.56 44,998 -40.06 22,564 -49.86 -27.3
Administration and General 253,200 317,534 25.41 273,589 -13.84 284,779 4.09 294,031 3.25 3.8
Total Expenses 1,580,053 1,536,413 -2.76 2,292,058 49.18 1,719,049 -25.00 3,070,103 78.59 18.1

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 3,165,051 3,061,062 2,527,722 3,145,944 1,616,575
Depreciation 366,934 431,719 17.66 194,767 -54.89 66,881 -65.66 66,814 -0.10 -34.7
P.B.I.T. 2,798,117 2,629,343 2,332,955 3,079,063 1,549,761
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) -135,820 -132,735 -2.27 -314,247 136.75 -333,888 6.25 -503,748 50.87
Pre-tax Profit 2,662,297 2,496,608 2,018,708 2,745,175 1,046,013

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 55,500 8,000 -85.59 333 -95.84 0 -100.00 1,220,326 n/a 116.5
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 101,778 287,307 182.29 1,074,495 273.99 444,836 -58.60 0 -100.00 -100.0
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 157,278 295,307 87.76 1,074,828 263.97 444,836 -58.61 1,220,326 174.33 66.9
Canadian Programming/Revenue (%) 3.31 6.42 22.30 9.14 26.04

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 132,425 143,105 8.06 72,177 -49.56 54,576 -24.39 51,442 -5.74 -21.1
Total Staff Count 1 1 0.00 1 0.00 1 0.00 1 0.00
Avg Remuneration 132,425 143,105 8.06 72,177 -49.56 54,576 -24.39 51,442 -5.74 -21.1

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 878,365 812,003 -7.56 768,714 -5.33 766,638 -0.27 729,102 -4.90 -4.6

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 66.7 66.6 52.4 64.7 34.5
P.B.I.T. Margin 59.0 57.2 48.4 63.3 33.1
Pre-tax Margin 56.1 54.3 41.9 56.4 22.3
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