OWN: The Oprah Winfrey Network (formerly OWN; formerly VIVA)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305417257 OWN: The Oprah Winfrey Network (formerly OWN; formerly VIVA) OWN Inc. Corus Entertainment Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 13,069,050 14,880,817 13.86 14,184,122 -4.68 14,449,890 1.87 14,611,236 1.12 2.8
DTH revenue 4,967,903 5,187,718 4.42 6,011,729 15.88 5,892,083 -1.99 5,540,076 -5.97 2.8
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 2,922,300 6,587,072 125.41 7,904,731 20.00 9,065,868 14.69 8,147,606 -10.13 29.2
Other revenue 31,809 43,235 35.92 95,114 119.99 96,063 1.00 203,023 111.34
Total Revenue 20,991,062 26,698,842 27.19 28,195,696 5.61 29,503,904 4.64 28,501,941 -3.40 8.0

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 7,740,704 9,328,566 20.51 13,721,076 47.09 18,593,690 35.51 20,562,282 10.59 27.7
Technical 489,766 501,084 2.31 484,888 -3.23 448,958 -7.41 413,858 -7.82 -4.1
Sales and Promotion 1,573,663 3,401,330 116.14 2,196,914 -35.41 644,463 -70.67 167,205 -74.06 -42.9
Administration and General 2,203,737 3,000,079 36.14 3,251,485 8.38 3,033,430 -6.71 2,631,514 -13.25 4.5
Total Expenses 12,007,870 16,231,059 35.17 19,654,363 21.09 22,720,541 15.60 23,774,859 4.64 18.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 8,983,192 10,467,783 8,541,333 6,783,363 4,727,082
Depreciation 0 30,968 n/a 1,066,773 >999± 1,171,257 9.79 897,215 -23.40 n/a
P.B.I.T. 8,983,192 10,436,815 7,474,560 5,612,106 3,829,867
Interest Expense 160,302 755,128 371.07 1,396,650 84.96 1,022,576 -26.78 1,233,990 20.67
Adjustments - Gain (Loss) -481,627 -1,198,481 148.84 1,146,331 -195.65 231,856 -79.77 1,511,952 552.11
Pre-tax Profit 8,341,263 8,483,206 7,224,241 4,821,386 4,107,829

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 4,664,798 4,848,839 3.95 5,199,645 7.23 6,247,421 20.15 5,730,767 -8.27 5.3
Script & concept 60,375 203,637 237.29 285,898 40.40 414,826 45.10 415,957 0.27 62.0
Filler Programming + Program Production 501,740 619,309 23.43 884,924 42.89 893,038 0.92 735,081 -17.69 10.0
Investment in Programming 0 664,116 n/a 451,996 -31.94 103,600 -77.08 0 -100.00 n/a
Total Canadian Programming 5,226,913 6,335,901 21.22 6,822,463 7.68 7,658,885 12.26 6,881,805 -10.15 7.1
Canadian Programming/Revenue (%) 24.90 23.73 24.20 25.96 24.15

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,315,113 1,758,669 33.73 1,323,255 -24.76 1,167,216 -11.79 744,411 -36.22 -13.3
Total Staff Count 17 29 70.59 28 -3.45 24 -14.29 23 -4.17
Avg Remuneration 77,360 60,644 -21.61 47,259 -22.07 48,634 2.91 32,366 -33.45 -19.6

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 5,742,329 5,967,663 3.92 6,219,356 4.22 6,157,269 -1.00 6,058,998 -1.60 1.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 42.8 39.2 30.3 23.0 16.6
P.B.I.T. Margin 42.8 39.1 26.5 19.0 13.4
Pre-tax Margin 39.7 31.8 25.6 16.3 14.4
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