MTS Video on Demand

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535418132 MTS Video on Demand MTS Inc. Manitoba Telecom Services Inc. Video-on-Demand 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 3,407,434 3,382,461 -0.73 3,318,968 -1.88 3,315,475 -0.11 3,089,318 -6.82 -2.4
DTH revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
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 3,407,434 3,382,461 -0.73 3,318,968 -1.88 3,315,475 -0.11 3,089,318 -6.82 -2.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 2,621,358 2,437,212 -7.02 3,038,325 24.66 2,742,549 -9.73 2,361,441 -13.90 -2.6
Technical 715,550 1,150,309 60.76 944,438 -17.90 1,338,123 41.68 1,063,139 -20.55 10.4
Sales and Promotion 656,241 626,270 -4.57 456,435 -27.12 488,794 7.09 405,304 -17.08 -11.4
Administration and General 284,314 303,478 6.74 222,085 -26.82 238,406 7.35 200,409 -15.94 -8.4
Total Expenses 4,277,463 4,517,269 5.61 4,661,283 3.19 4,807,872 3.14 4,030,293 -16.17 -1.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income -870,029 -1,134,808 -1,342,315 -1,492,397 -940,975
Depreciation 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
P.B.I.T. -870,029 -1,134,808 -1,342,315 -1,492,397 -940,975
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit -870,029 -1,134,808 -1,342,315 -1,492,397 -940,975

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 776,115 761,799 -1.84 1,362,334 78.83 1,176,889 -13.61 1,024,745 -12.93 7.2
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 776,115 761,799 -1.84 1,362,334 78.83 1,176,889 -13.61 1,024,745 -12.93 7.2
Canadian Programming/Revenue (%) 22.78 22.52 41.05 35.50 33.17

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 678,419 672,334 -0.90 478,525 -28.83 513,660 7.34 466,709 -9.14 -8.9
Total Staff Count 10.64 10.83 1.79 7.5 -30.75 7.36 -1.87 6.67 -9.38
Avg Remuneration 63,761 62,081 -2.64 63,803 2.77 69,791 9.38 69,971 0.26 2.4

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin -25.5 -33.5 -40.4 -45.0 -30.5
P.B.I.T. Margin -25.5 -33.5 -40.4 -45.0 -30.5
Pre-tax Margin -25.5 -33.5 -40.4 -45.0 -30.5
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