radX (formerly Rush HD)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535422323 radX (formerly Rush HD) Blue Ant Television Ltd. Blue Ant Media Inc. Specialty (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue
DTH revenue
Local advertising revenue
National advertising revenue
Other revenue
Total Revenue 3,133,015 3,588,481 14.54 3,726,991 3.86 3,793,913 1.80 4,172,606 9.98 7.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 722,800 863,196 19.42 1,646,142 90.70 1,351,663 -17.89 1,355,798 0.31 17.0
Technical
Sales and Promotion
Administration and General
Total Expenses

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income
Depreciation
P.B.I.T.
Interest Expense
Adjustments - Gain (Loss)
Pre-tax Profit

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 371,053 454,554 22.50 497,051 9.35 410,615 -17.39 153,968 -62.50 -19.7
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 305,523 n/a 431,565 41.25 353,139 -18.17 n/a
Investment in Programming 0 0 n/a 74,250 n/a 25,750 -65.32 0 -100.00 n/a
Total Canadian Programming 371,053 454,554 22.50 876,824 92.90 867,930 -1.01 507,107 -41.57 8.1
Canadian Programming/Revenue (%) 11.84 12.67 23.53 22.88 12.15

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration
Total Staff Count
Avg Remuneration

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
P.B.I.T. Margin
Pre-tax Margin
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