YTV

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
314600842 YTV YTV Canada, Inc. Corus Entertainment Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 27,135,876 27,753,955 2.28 27,738,341 -0.06 27,807,600 0.25 26,797,684 -3.63 -0.3
DTH revenue 9,115,542 9,157,694 0.46 9,308,234 1.64 9,319,336 0.12 9,428,189 1.17 0.9
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 49,399,875 56,182,634 13.73 53,688,288 -4.44 52,143,910 -2.88 43,872,510 -15.86 -2.9
Other revenue 0 0 n/a 109,229 n/a 120,160 10.01 126,704 5.45
Total Revenue 85,651,293 93,094,283 8.69 90,844,092 -2.42 89,391,006 -1.60 80,225,087 -10.25 -1.6

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 33,301,761 32,192,854 -3.33 34,949,428 8.56 34,237,292 -2.04 35,074,827 2.45 1.3
Technical 2,789,728 2,194,112 -21.35 2,167,207 -1.23 1,670,148 -22.94 1,291,272 -22.69 -17.5
Sales and Promotion 8,899,030 9,132,816 2.63 7,870,211 -13.82 7,014,754 -10.87 1,813,414 -74.15 -32.8
Administration and General 9,192,643 11,468,487 24.76 10,769,742 -6.09 9,095,480 -15.55 5,888,790 -35.26 -10.5
Total Expenses 54,183,162 54,988,269 1.49 55,756,588 1.40 52,017,674 -6.71 44,068,303 -15.28 -5.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 31,468,131 38,106,014 35,087,504 37,373,332 36,156,784
Depreciation 5,516,799 1,495,275 -72.90 2,763,043 84.78 4,126,520 49.35 3,574,931 -13.37 -10.3
P.B.I.T. 25,951,332 36,610,739 32,324,461 33,246,812 32,581,853
Interest Expense 6,510,054 6,618,019 1.66 1,242,173 -81.23 1,097,873 -11.62 1,017,145 -7.35
Adjustments - Gain (Loss) 23,488,178 19,607,706 -16.52 14,671,413 -25.18 11,965,874 -18.44 73,213,175 511.85
Pre-tax Profit 42,929,456 49,600,426 45,753,701 44,114,813 104,777,883

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 19,676,802 20,850,795 5.97 23,781,537 14.06 23,188,198 -2.49 24,164,183 4.21 5.3
Script & concept 490,547 411,518 -16.11 424,917 3.26 494,338 16.34 842,901 70.51 14.5
Filler Programming + Program Production 2,095,880 1,748,655 -16.57 2,537,080 45.09 2,704,756 6.61 2,237,037 -17.29 1.6
Investment in Programming 175,161 360,514 105.82 412,022 14.29 253,012 -38.59 307,177 21.41 15.1
Total Canadian Programming 22,438,390 23,371,482 4.16 27,155,556 16.19 26,640,304 -1.90 27,551,298 3.42 5.3
Canadian Programming/Revenue (%) 26.20 25.11 29.89 29.80 34.34

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 7,740,766 8,468,172 9.40 7,323,528 -13.52 4,488,603 -38.71 2,694,787 -39.96 -23.2
Total Staff Count 91 107 17.58 115 7.48 101 -12.17 64 -36.63
Avg Remuneration 85,063 79,142 -6.96 63,683 -19.53 44,442 -30.21 42,106 -5.26 -16.1

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 11,159,007 11,236,887 0.70 11,315,638 0.70 11,230,697 -0.75 11,154,698 -0.68 0.0

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 36.7 40.9 38.6 41.8 45.1
P.B.I.T. Margin 30.3 39.3 35.6 37.2 40.6
Pre-tax Margin 50.1 53.3 50.4 49.4 130.6
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