Showcase

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
315413732 Showcase Showcase Television Inc. Shaw Communications Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 29,055,870 29,125,559 0.24 27,102,402 -6.95 22,982,724 -15.20 23,752,222 3.35 -4.9
DTH revenue 8,753,077 8,906,659 1.75 9,135,948 2.57 8,754,033 -4.18 9,384,257 7.20 1.8
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 33,887,525 36,338,969 7.23 37,918,213 4.35 41,178,577 8.60 42,553,141 3.34 5.9
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 71,696,472 74,371,187 3.73 74,156,563 -0.29 72,915,334 -1.67 75,689,620 3.80 1.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 27,003,393 28,919,580 7.10 21,864,102 -24.40 30,443,160 39.24 26,901,051 -11.64 -0.1
Technical 1,036,547 1,029,428 -0.69 1,096,717 6.54 803,773 -26.71 640,967 -20.26 -11.3
Sales and Promotion 2,746,097 2,395,043 -12.78 1,637,657 -31.62 2,066,965 26.21 2,343,816 13.39 -3.9
Administration and General 3,967,544 3,407,141 -14.12 2,575,415 -24.41 2,697,361 4.74 2,481,409 -8.01 -11.1
Total Expenses 34,753,581 35,751,192 2.87 27,173,891 -23.99 36,011,259 32.52 32,367,243 -10.12 -1.8

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 36,942,891 38,619,995 46,982,672 36,904,075 43,322,377
Depreciation 0 0 n/a 3,654 n/a 97,114 >999± 100,030 3.00 n/a
P.B.I.T. 36,942,891 38,619,995 46,979,018 36,806,961 43,222,347
Interest Expense 43,648,112 48,370,988 10.82 5,051,040 -89.56 2,065,008 -59.12 -1,484,441 -171.89
Adjustments - Gain (Loss) 4,851,090 11,916,112 145.64 0 -100.00 0 n/a 0 n/a
Pre-tax Profit -1,854,131 2,165,119 41,927,978 34,741,953 44,706,788

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 11,419,201 6,678,333 -41.52 11,162,478 67.14 14,677,481 31.49 12,254,609 -16.51 1.8
Script & concept 137,038 97,354 -28.96 326,303 235.17 244,467 -25.08 0 -100.00 -100.0
Filler Programming + Program Production 1,950,939 1,929,441 -1.10 2,208,090 14.44 2,235,385 1.24 1,647,659 -26.29 -4.1
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 13,507,178 8,705,128 -35.55 13,696,871 57.34 17,157,333 25.26 13,902,268 -18.97 0.7
Canadian Programming/Revenue (%) 18.84 11.70 18.47 23.53 18.37

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,510,251 1,632,633 8.10 2,916,416 78.63 2,912,691 -0.13 2,484,594 -14.70 13.3
Total Staff Count 19 21 10.53 34 61.90 33 -2.94 27 -18.18
Avg Remuneration 79,487 77,744 -2.19 85,777 10.33 88,263 2.90 92,022 4.26 3.7

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 8,400,961 8,670,774 3.21 8,845,368 2.01 9,099,034 2.87 7,127,950 -21.66 -4.0

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 51.5 51.9 63.4 50.6 57.2
P.B.I.T. Margin 51.5 51.9 63.4 50.5 57.1
Pre-tax Margin -2.6 2.9 56.5 47.6 59.1
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