BBC Canada

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305424319 BBC Canada Jasper Broadcasting Inc. Shaw Communications Inc. Specialty (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 2,619,363 2,977,524 13.67 4,302,447 44.50 4,707,048 9.40 4,944,739 5.05 17.2
DTH revenue 3,190,477 3,131,379 -1.85 2,997,095 -4.29 2,813,036 -6.14 2,704,455 -3.86 -4.1
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 2,345,461 2,915,303 24.30 3,143,498 7.83 3,145,808 0.07 3,166,880 0.67 7.8
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 8,155,301 9,024,206 10.65 10,443,040 15.72 10,665,892 2.13 10,816,074 1.41 7.3

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 4,344,108 3,457,551 -20.41 2,146,329 -37.92 2,593,566 20.84 2,690,605 3.74 -11.3
Technical 724,696 674,941 -6.87 654,261 -3.06 657,877 0.55 496,750 -24.49 -9.0
Sales and Promotion 257,674 219,787 -14.70 353,159 60.68 228,653 -35.25 78,451 -65.69 -25.7
Administration and General 1,137,506 1,248,413 9.75 1,054,195 -15.56 1,107,738 5.08 1,240,319 11.97 2.2
Total Expenses 6,463,984 5,600,692 -13.36 4,207,944 -24.87 4,587,834 9.03 4,506,125 -1.78 -8.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,691,317 3,423,514 6,235,096 6,078,058 6,309,949
Depreciation 1,640 0 -100.00 0 n/a 0 n/a 0 n/a -100.0
P.B.I.T. 1,689,677 3,423,514 6,235,096 6,078,058 6,309,949
Interest Expense 2,006,175 1,845,138 -8.03 1,548,800 -16.06 1,195,143 -22.83 776,274 -35.05
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit -316,498 1,578,376 4,686,296 4,882,915 5,533,675

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 97,969 133,551 36.32 156,251 17.00 133,097 -14.82 123,546 -7.18 6.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 630,697 535,047 -15.17 341,272 -36.22 303,164 -11.17 406,224 33.99 -10.4
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 728,666 668,598 -8.24 497,523 -25.59 436,261 -12.31 529,770 21.43 -7.7
Canadian Programming/Revenue (%) 8.93 7.41 4.76 4.09 4.90

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 880,218 791,231 -10.11 906,794 14.61 1,039,431 14.63 1,082,557 4.15 5.3
Total Staff Count 11 10 -9.09 11 10.00 12 9.09 12 0.00
Avg Remuneration 80,020 79,123 -1.12 82,436 4.19 86,619 5.07 90,213 4.15 3.0

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,456,294 2,629,465 7.05 2,726,348 3.68 2,727,819 0.05 2,681,246 -1.71 2.2

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 20.7 37.9 59.7 57.0 58.3
P.B.I.T. Margin 20.7 37.9 59.7 57.0 58.3
Pre-tax Margin -3.9 17.5 44.9 45.8 51.2
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