Vivid TV (formerly Vanessa)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535426169 Vivid TV (formerly Vanessa) Télévision Sex-Shop inc. Trudeau, Marc Pay-TV (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 305,538 581,836 90.43 523,711 -9.99 554,632 5.90 n/a
DTH revenue 0 0 n/a 0 n/a 0 n/a n/a
Local advertising revenue 0 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 0 0 n/a 0 n/a 0 n/a n/a
Other revenue 394,358 231,955 -41.18 72,157 -68.89 97,231 34.75
Total Revenue 699,896 813,791 16.27 595,868 -26.78 651,863 9.40 n/a

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 646,361 895,539 38.55 291,267 -67.48 154,473 -46.97 n/a
Technical 365,306 193,573 -47.01 210,346 8.66 228,800 8.77 n/a
Sales and Promotion 504,418 206,404 -59.08 22,301 -89.20 39,177 75.67 n/a
Administration and General 596,279 374,888 -37.13 96,529 -74.25 120,664 25.00 n/a
Total Expenses 2,112,364 1,670,404 -20.92 620,443 -62.86 543,114 -12.46 n/a

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income -1,412,468 -856,613 -24,575 108,749
Depreciation 16,705 22,168 32.70 15,744 -28.98 4,742 -69.88 n/a
P.B.I.T. -1,429,173 -878,781 -40,319 104,007
Interest Expense 19,690 73,502 273.30 50,160 -31.76 51,353 2.38
Adjustments - Gain (Loss) 5,086 98 -98.07 0 -100.00 0 n/a
Pre-tax Profit -1,443,777 -952,185 -90,479 52,654

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 22,389 70,517 214.96 95,348 35.21 31,293 -67.18 n/a
Script & concept 0 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 472,989 678,783 43.51 0 -100.00 0 n/a n/a
Investment in Programming 0 0 n/a 123,449 n/a 71,454 -42.12 n/a
Total Canadian Programming 495,378 749,300 51.26 218,797 -70.80 102,747 -53.04 n/a
Canadian Programming/Revenue (%) 70.78 92.08 36.72 15.76

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 842,058 723,388 -14.09 106,216 -85.32 125,932 18.56 n/a
Total Staff Count 9 6 -33.33 3 -50.00 3.25 8.33
Avg Remuneration 93,562 120,565 28.86 35,405 -70.63 38,748 9.44 n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 6,790 6,120 -9.87 5,402 -11.73 6,413 18.72 n/a

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin -201.8 -105.3 -4.1 16.7
P.B.I.T. Margin -204.2 -108.0 -6.8 16.0
Pre-tax Margin -206.3 -117.0 -15.2 8.1
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