History Television

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305417249 History Television History Television Inc. Shaw Communications Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 20,188,222 20,146,637 -0.21 20,086,049 -0.30 19,673,570 -2.05 20,889,706 6.18 0.9
DTH revenue 7,213,020 7,418,228 2.84 7,587,516 2.28 7,303,705 -3.74 7,896,693 8.12 2.3
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 35,313,458 43,001,682 21.77 48,539,043 12.88 51,387,451 5.87 48,918,133 -4.81 8.5
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 62,714,700 70,566,547 12.52 76,212,608 8.00 78,364,726 2.82 77,704,532 -0.84 5.5

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 20,740,304 27,145,112 30.88 24,865,893 -8.40 26,535,039 6.71 22,849,926 -13.89 2.5
Technical 1,057,211 1,005,218 -4.92 1,015,127 0.99 994,890 -1.99 1,066,278 7.18 0.2
Sales and Promotion 1,179,096 1,811,631 53.65 1,809,078 -0.14 1,664,250 -8.01 1,085,789 -34.76 -2.0
Administration and General 3,201,964 3,196,694 -0.16 2,476,111 -22.54 5,822,750 135.16 6,030,098 3.56 17.2
Total Expenses 26,178,575 33,158,655 26.66 30,166,209 -9.02 35,016,929 16.08 31,032,091 -11.38 4.3

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 36,536,125 37,407,892 46,046,399 43,347,797 46,672,441
Depreciation 0 0 n/a 3,654 n/a 68,495 >999± 63,383 -7.46 n/a
P.B.I.T. 36,536,125 37,407,892 46,042,745 43,279,302 46,609,058
Interest Expense 18,626,401 19,260,963 3.41 26,509,580 37.63 26,069,154 -1.66 26,448,390 1.45
Adjustments - Gain (Loss) 2,875,198 6,081,936 111.53 0 -100.00 0 n/a 0 n/a
Pre-tax Profit 20,784,922 24,228,865 19,533,165 17,210,148 20,160,668

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 12,061,037 18,345,835 52.11 15,860,488 -13.55 16,593,791 4.62 13,398,653 -19.26 2.7
Script & concept 56,729 131,610 132.00 204,858 55.66 392,508 91.60 350,027 -10.82 57.6
Filler Programming + Program Production 1,738,181 1,704,381 -1.94 1,948,836 14.34 2,034,604 4.40 1,681,940 -17.33 -0.8
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 13,855,947 20,181,826 45.65 18,014,182 -10.74 19,020,903 5.59 15,430,620 -18.88 2.7
Canadian Programming/Revenue (%) 22.09 28.60 23.64 24.27 19.86

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,457,284 1,596,086 9.52 2,519,734 57.87 2,532,950 0.52 2,425,624 -4.24 13.6
Total Staff Count 19 21 10.53 29 38.10 28 -3.45 27 -3.57
Avg Remuneration 76,699 76,004 -0.91 86,887 14.32 90,463 4.11 89,838 -0.69 4.0

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 7,277,023 7,439,852 2.24 7,568,295 1.73 7,867,210 3.95 7,082,824 -9.97 -0.7

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 58.3 53.0 60.4 55.3 60.1
P.B.I.T. Margin 58.3 53.0 60.4 55.2 60.0
Pre-tax Margin 33.1 34.3 25.6 22.0 25.9
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