ARTV

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
205423734 ARTV ARTV inc. Canadian Broadcasting Corporation Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 10,573,275 10,780,876 1.96 10,738,642 -0.39 10,482,694 -2.38 9,997,759 -4.63 -1.4
DTH revenue 3,368,961 3,258,059 -3.29 2,954,516 -9.32 2,666,495 -9.75 2,436,499 -8.63 -7.8
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 2,611,313 3,174,700 21.57 3,541,892 11.57 3,735,430 5.46 3,399,739 -8.99 6.8
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 16,553,549 17,213,635 3.99 17,235,050 0.12 16,884,619 -2.03 15,833,997 -6.22 -1.1

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 12,086,958 12,881,244 6.57 12,703,549 -1.38 12,938,749 1.85 11,692,829 -9.63 -0.8
Technical 1,144,961 1,250,897 9.25 1,256,179 0.42 1,215,998 -3.20 917,674 -24.53 -5.4
Sales and Promotion 1,974,147 1,864,196 -5.57 1,962,791 5.29 1,997,516 1.77 1,956,260 -2.07 -0.2
Administration and General 1,215,345 973,467 -19.90 882,248 -9.37 897,947 1.78 1,056,301 17.64 -3.5
Total Expenses 16,421,411 16,969,804 3.34 16,804,767 -0.97 17,050,210 1.46 15,623,064 -8.37 -1.2

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 132,138 243,831 430,283 -165,591 210,933
Depreciation 70,060 65,923 -5.90 106,114 60.97 115,316 8.67 93,911 -18.56 7.6
P.B.I.T. 62,078 177,908 324,169 -280,907 117,022
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) 20,808 22,032 5.88 80,973 267.52 80,313 -0.82 89,801 11.81
Pre-tax Profit 82,886 199,940 405,142 -200,594 206,823

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 6,318,898 6,775,417 7.22 6,678,148 -1.44 6,827,757 2.24 6,126,320 -10.27 -0.8
Script & concept 68,500 25,206 -63.20 72,800 188.82 66,415 -8.77 72,070 8.51 1.3
Filler Programming + Program Production 3,703,545 4,101,217 10.74 3,931,972 -4.13 4,000,277 1.74 3,673,534 -8.17 -0.2
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 10,090,943 10,901,840 8.04 10,682,920 -2.01 10,894,449 1.98 9,871,924 -9.39 -0.6
Canadian Programming/Revenue (%) 60.96 63.33 61.98 64.52 62.35

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 3,241,062 3,257,248 0.50 3,052,423 -6.29 3,158,458 3.47 3,143,263 -0.48 -0.8
Total Staff Count 40.5 46 13.58 42 -8.70 42 0.00 40 -4.76
Avg Remuneration 80,026 70,810 -11.52 72,677 2.64 75,201 3.47 78,582 4.49 -0.5

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,129,793 2,116,883 -0.61 2,072,523 -2.10 2,025,432 -2.27 2,026,315 0.04 -1.2

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 0.8 1.4 2.5 -1.0 1.3
P.B.I.T. Margin 0.4 1.0 1.9 -1.7 0.7
Pre-tax Margin 0.5 1.2 2.4 -1.2 1.3
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