Space (formerly Space: The Imagination Station)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305417306 Space (formerly Space: The Imagination Station) Bell Media Inc. BCE Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 16,784,354 16,617,021 -1.00 16,796,893 1.08 16,714,085 -0.49 18,640,373 11.52 2.7
DTH revenue 5,318,562 5,283,389 -0.66 5,674,387 7.40 5,906,835 4.10 5,865,694 -0.70 2.5
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 26,621,290 27,615,072 3.73 27,582,371 -0.12 27,638,399 0.20 26,527,579 -4.02 -0.1
Other revenue 3,558 263,626 >999± 92,206 -65.02 14,670 -84.09 52,588 258.47
Total Revenue 48,727,764 49,779,108 2.16 50,145,857 0.74 50,273,989 0.26 51,086,234 1.62 1.2

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 25,009,208 22,532,359 -9.90 18,367,094 -18.49 24,728,320 34.63 25,498,668 3.12 0.5
Technical 1,394,179 1,531,759 9.87 1,426,726 -6.86 1,374,150 -3.69 1,344,777 -2.14 -0.9
Sales and Promotion 2,992,584 2,592,403 -13.37 2,492,057 -3.87 2,996,612 20.25 2,291,021 -23.55 -6.5
Administration and General 2,834,718 3,913,623 38.06 3,306,103 -15.52 3,184,090 -3.69 3,782,557 18.80 7.5
Total Expenses 32,230,689 30,570,144 -5.15 25,591,980 -16.28 32,283,172 26.15 32,917,023 1.96 0.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 16,497,075 19,208,964 24,553,877 17,990,817 18,169,211
Depreciation 2,756,379 3,346,856 21.42 1,123,127 -66.44 741,071 -34.02 771,387 4.09 -27.3
P.B.I.T. 13,740,696 15,862,108 23,430,750 17,249,746 17,397,824
Interest Expense 55,904 0 -100.00 0 n/a 0 n/a 8 n/a
Adjustments - Gain (Loss) -1,381,172 -1,452,451 5.16 -3,404,749 134.41 -3,454,291 1.46 -5,235,231 51.56
Pre-tax Profit 12,303,620 14,409,657 20,026,001 13,795,455 12,162,585

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 8,279,467 10,379,380 25.36 7,965,257 -23.26 14,115,325 77.21 12,971,014 -8.11 11.9
Script & concept 60,000 60,000 0.00 86,667 44.45 100,000 15.38 34,945 -65.06 -12.6
Filler Programming + Program Production 2,727,373 2,907,621 6.61 4,867,235 67.40 3,423,025 -29.67 3,654,848 6.77 7.6
Investment in Programming 1,918,000 103,675 -94.59 0 -100.00 0 n/a 0 n/a -100.0
Total Canadian Programming 12,984,840 13,450,676 3.59 12,919,159 -3.95 17,638,350 36.53 16,660,807 -5.54 6.4
Canadian Programming/Revenue (%) 26.65 27.02 25.76 35.08 32.61

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,527,094 1,363,417 -10.72 1,724,502 26.48 1,820,195 5.55 2,320,504 27.49 11.0
Total Staff Count 17 18 5.88 18 0.00 18.08 0.44 29.92 65.49
Avg Remuneration 89,829 75,745 -15.68 95,806 26.48 100,675 5.08 77,557 -22.96 -3.6

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 7,004,318 6,871,328 -1.90 6,678,905 -2.80 6,562,605 -1.74 6,355,043 -3.16 -2.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 33.9 38.6 49.0 35.8 35.6
P.B.I.T. Margin 28.2 31.9 46.7 34.3 34.1
Pre-tax Margin 25.2 28.9 39.9 27.4 23.8
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