The Independent Film Channel Canada

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
105424006 The Independent Film Channel Canada 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 3,621,521 3,853,525 6.41 4,681,150 21.48 5,561,154 18.80 5,123,824 -7.86 9.1
DTH revenue 4,422,663 4,386,513 -0.82 4,122,207 -6.03 3,774,810 -8.43 3,495,970 -7.39 -5.7
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 1,161,494 1,501,193 29.25 1,660,542 10.61 1,662,611 0.12 1,724,630 3.73 10.4
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 9,205,678 9,741,231 5.82 10,463,899 7.42 10,998,575 5.11 10,344,424 -5.95 3.0

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 4,388,490 4,322,894 -1.49 2,481,724 -42.59 2,727,463 9.90 2,404,824 -11.83 -14.0
Technical 757,629 694,165 -8.38 668,326 -3.72 646,254 -3.30 597,951 -7.47 -5.8
Sales and Promotion 163,451 151,205 -7.49 215,861 42.76 141,295 -34.54 116,774 -17.35 -8.1
Administration and General 1,471,129 1,470,657 -0.03 1,636,681 11.29 1,692,874 3.43 2,024,459 19.59 8.3
Total Expenses 6,780,699 6,638,921 -2.09 5,002,592 -24.65 5,207,886 4.10 5,144,008 -1.23 -6.7

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 2,424,979 3,102,310 5,461,307 5,790,689 5,200,416
Depreciation 0 0 n/a 1,827 n/a 0 -100.00 0 n/a n/a
P.B.I.T. 2,424,979 3,102,310 5,459,480 5,790,689 5,200,416
Interest Expense 3,247,491 2,757,286 -15.09 287 -99.99 1,359 373.52 0 -100.00
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit -822,512 345,024 5,459,193 5,789,330 5,200,416

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 2,882,027 2,918,018 1.25 699,617 -76.02 1,097,614 56.89 1,089,854 -0.71 -21.6
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 412,347 440,804 6.90 553,798 25.63 439,807 -20.58 405,439 -7.81 -0.4
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 3,294,374 3,358,822 1.96 1,253,415 -62.68 1,537,421 22.66 1,495,293 -2.74 -17.9
Canadian Programming/Revenue (%) 35.79 34.48 11.98 13.98 14.46

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 673,742 681,027 1.08 907,688 33.28 853,170 -6.01 1,021,286 19.70 11.0
Total Staff Count 9 9 0.00 11 22.22 10 -9.09 11 10.00
Avg Remuneration 74,860 75,670 1.08 82,517 9.05 85,317 3.39 92,844 8.82 5.5

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,829,790 2,821,586 -0.29 2,813,283 -0.29 2,727,950 -3.03 1,409,513 -48.33 -16.0

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 26.3 31.8 52.2 52.6 50.3
P.B.I.T. Margin 26.3 31.8 52.2 52.6 50.3
Pre-tax Margin -8.9 3.5 52.2 52.6 50.3
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