Movie Central

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
435101126 Movie Central Movie Central Ltd. Corus Entertainment Inc. Pay-TV (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 70,010,514 73,713,319 5.29 61,893,929 -16.03 60,770,002 -1.82 52,677,186 -13.32 -6.9
DTH revenue 37,804,204 36,785,207 -2.70 34,163,111 -7.13 34,052,295 -0.32 32,360,097 -4.97 -3.8
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 107,814,718 110,498,526 2.49 96,057,040 -13.07 94,822,297 -1.29 85,037,283 -10.32 -5.8

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 70,027,869 71,021,224 1.42 66,496,719 -6.37 64,160,905 -3.51 62,579,566 -2.46 -2.8
Technical 2,013,634 2,139,654 6.26 1,724,348 -19.41 1,698,572 -1.49 1,590,202 -6.38 -5.7
Sales and Promotion 3,510,846 3,926,344 11.83 3,685,923 -6.12 3,627,007 -1.60 3,201,543 -11.73 -2.3
Administration and General 11,501,711 14,079,203 22.41 13,942,826 -0.97 10,997,540 -21.12 9,876,799 -10.19 -3.7
Total Expenses 87,054,060 91,166,425 4.72 85,849,816 -5.83 80,484,024 -6.25 77,248,110 -4.02 -2.9

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 20,760,658 19,332,101 10,207,224 14,338,273 7,789,173
Depreciation 9,378 0 -100.00 1,841,748 n/a 2,029,820 10.21 1,376,056 -32.21 248.0
P.B.I.T. 20,751,280 19,332,101 8,365,476 12,308,453 6,413,117
Interest Expense 2,435,479 2,558,534 5.05 2,644,929 3.38 2,978,070 12.60 3,070,986 3.12
Adjustments - Gain (Loss) 3,008,374 7,442,294 147.39 20,344,462 173.36 18,039,609 -11.33 27,916,744 54.75
Pre-tax Profit 21,324,175 24,215,861 26,065,009 27,369,992 31,258,875

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 11,236,775 12,116,263 7.83 11,853,119 -2.17 12,156,367 2.56 13,204,280 8.62 4.1
Script & concept 953,430 1,670,677 75.23 813,390 -51.31 844,046 3.77 576,974 -31.64 -11.8
Filler Programming + Program Production 354,012 448,927 26.81 613,610 36.68 740,257 20.64 635,733 -14.12 15.8
Investment in Programming 8,111,425 3,416,531 -57.88 1,306,582 -61.76 458,872 -64.88 -118,549 -125.83 #ERROR
Total Canadian Programming 20,655,642 17,652,398 -14.54 14,586,701 -17.37 14,199,542 -2.65 14,298,438 0.70 -8.8
Canadian Programming/Revenue (%) 19.16 15.98 15.19 14.97 16.81

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 2,807,658 4,104,964 46.21 3,024,715 -26.32 2,903,419 -4.01 2,020,748 -30.40 -7.9
Total Staff Count 28 41 46.43 38 -7.32 32 -15.79 34 6.25
Avg Remuneration 100,274 100,121 -0.15 79,598 -20.50 90,732 13.99 59,434 -34.50 -12.3

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 962,705 983,663 2.18 976,152 -0.76 995,496 1.98 926,923 -6.89 -0.9

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 19.3 17.5 10.6 15.1 9.2
P.B.I.T. Margin 19.2 17.5 8.7 13.0 7.5
Pre-tax Margin 19.8 21.9 27.1 28.9 36.8
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