OUTtv (formerly PrideVision)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305423973 OUTtv (formerly PrideVision) OUTtv Network Inc. OUT Broadcasting Corporation Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 976,783 1,080,230 10.59 1,997,254 84.89 3,119,560 56.19 3,090,991 -0.92 33.4
DTH revenue 1,848,227 1,932,466 4.56 1,866,709 -3.40 1,867,411 0.04 1,848,171 -1.03 0.0
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 83,305 173,567 108.35 81,228 -53.20 102,712 26.45 184,743 79.87 22.0
Other revenue 80,569 83,191 3.25 28,412 -65.85 143,327 404.46 747,886 421.80
Total Revenue 2,988,884 3,269,454 9.39 3,973,603 21.54 5,233,010 31.69 5,871,791 12.21 18.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 1,826,757 1,908,791 4.49 2,209,186 15.74 2,804,268 26.94 2,797,191 -0.25 11.2
Technical 927,066 886,118 -4.42 890,651 0.51 1,082,044 21.49 1,082,044 0.00 3.9
Sales and Promotion 188,823 162,038 -14.19 356,169 119.81 564,295 58.43 564,295 0.00 31.5
Administration and General 377,424 334,401 -11.40 337,473 0.92 880,412 160.88 880,412 0.00 23.6
Total Expenses 3,320,070 3,291,348 -0.87 3,793,479 15.26 5,331,019 40.53 5,323,942 -0.13 12.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income -331,186 -21,894 180,124 -98,009 547,849
Depreciation 38,940 29,732 -23.65 24,581 -17.32 23,441 -4.64 785,783 >999± 112.0
P.B.I.T. -370,126 -51,626 155,543 -121,450 -237,934
Interest Expense 32,062 35,832 11.76 40,840 13.98 46,476 13.80 56,228 20.98
Adjustments - Gain (Loss) 72,640 -5,597 -107.71 0 -100.00 -29,207 n/a 0 -100.00
Pre-tax Profit -329,548 -93,055 114,703 -197,133 -294,162

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 884,753 784,255 -11.36 760,095 -3.08 692,394 -8.91 1,891,515 173.18 20.9
Script & concept 0 0 n/a 0 n/a 0 n/a 155,200 n/a n/a
Filler Programming + Program Production 510,406 675,620 32.37 838,965 24.18 1,209,535 44.17 396,566 -67.21 -6.1
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 1,395,159 1,459,875 4.64 1,599,060 9.53 1,901,929 18.94 2,443,281 28.46 15.0
Canadian Programming/Revenue (%) 46.68 44.65 40.24 36.34 41.61

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 469,799 528,007 12.39 509,419 -3.52 710,466 39.47 848,561 19.44 15.9
Total Staff Count 7 7 0.00 8 14.29 10 25.00 11 10.00
Avg Remuneration 67,114 75,430 12.39 63,677 -15.58 71,047 11.57 77,142 8.58 3.5

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 573,058 630,929 10.10 939,200 48.86 1,026,169 9.26 990,300 -3.50 14.7

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin -11.1 -0.7 4.5 -1.9 9.3
P.B.I.T. Margin -12.4 -1.6 3.9 -2.3 -4.1
Pre-tax Margin -11.0 -2.8 2.9 -3.8 -5.0
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