Investigation Discovery (formerly Court TV Canada)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
405425613 Investigation Discovery (formerly Court TV Canada) Bell Media Inc. BCE Inc. Specialty (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 1,650,556 1,840,754 11.52 2,398,042 30.27 3,152,921 31.48 4,556,608 44.52 28.9
DTH revenue 2,071,918 1,880,589 -9.23 2,113,503 12.39 2,356,466 11.50 2,831,312 20.15 8.1
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 619,896 643,064 3.74 1,174,667 82.67 1,846,140 57.16 2,308,401 25.04 38.9
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 4,342,370 4,364,407 0.51 5,686,212 30.29 7,355,527 29.36 9,696,321 31.82 22.2

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 964,446 2,076,509 115.31 1,632,252 -21.39 1,825,663 11.85 2,258,477 23.71 23.7
Technical 332,166 330,311 -0.56 438,020 32.61 539,268 23.11 771,659 43.09 23.5
Sales and Promotion 115,641 468,249 304.92 402,962 -13.94 418,798 3.93 440,733 5.24 39.7
Administration and General 174,100 315,973 81.49 380,753 20.50 477,029 25.29 525,250 10.11 31.8
Total Expenses 1,586,353 3,191,042 101.16 2,853,987 -10.56 3,260,758 14.25 3,996,119 22.55 26.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 2,756,017 1,173,365 2,832,225 4,094,769 5,700,202
Depreciation 233,851 280,689 20.03 71,295 -74.60 101,119 41.83 138,245 36.72 -12.3
P.B.I.T. 2,522,166 892,676 2,760,930 3,993,650 5,561,957
Interest Expense 0 0 n/a 0 n/a -349 n/a 0 -100.00
Adjustments - Gain (Loss) -124,709 0 -100.00 -386,787 n/a -1,278,835 230.63 -1,333,444 4.27
Pre-tax Profit 2,397,457 892,676 2,374,143 2,715,164 4,228,513

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 36,862 245,895 567.07 21,367 -91.31 18,048 -15.53 0 -100.00 -100.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 244,897 249,981 2.08 528,234 111.31 351,324 -33.49 447,423 27.35 16.3
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 281,759 495,876 75.99 549,601 10.83 369,372 -32.79 447,423 21.13 12.3
Canadian Programming/Revenue (%) 6.49 11.36 9.67 5.02 4.61

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 0 187,823 n/a 209,114 11.34 158,659 -24.13 147,420 -7.08 n/a
Total Staff Count 0 2.5 n/a 2.5 0.00 2.17 -13.20 2.17 0.00
Avg Remuneration n/a 75,129 n/a 83,646 11.34 73,115 -12.59 67,935 -7.08 n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 964,950 956,863 -0.84 1,035,359 8.20 1,405,963 35.79 1,457,597 3.67 10.9

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 63.5 26.9 49.8 55.7 58.8
P.B.I.T. Margin 58.1 20.5 48.6 54.3 57.4
Pre-tax Margin 55.2 20.5 41.8 36.9 43.6
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