Book Television (formerly Book Television - The Channel)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
405423922 Book Television (formerly Book Television - The Channel) 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 1,674,515 1,657,313 -1.03 1,753,523 5.81 1,805,477 2.96 1,949,236 7.96 3.9
DTH revenue 2,558,892 2,532,615 -1.03 2,700,018 6.61 2,646,220 -1.99 2,628,159 -0.68 0.7
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 51,011 63,132 23.76 82,594 30.83 27,512 -66.69 29,525 7.32 -12.8
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 4,284,418 4,253,060 -0.73 4,536,135 6.66 4,479,209 -1.25 4,606,920 2.85 1.8

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 2,107,774 1,834,893 -12.95 684,588 -62.69 582,312 -14.94 833,538 43.14 -20.7
Technical 462,297 517,763 12.00 510,227 -1.46 507,227 -0.59 505,482 -0.34 2.3
Sales and Promotion 49,225 53,801 9.30 55,479 3.12 23,153 -58.27 5,416 -76.61 -42.4
Administration and General 195,812 252,484 28.94 227,590 -9.86 215,370 -5.37 222,291 3.21 3.2
Total Expenses 2,815,108 2,658,941 -5.55 1,477,884 -44.42 1,328,062 -10.14 1,566,727 17.97 -13.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,469,310 1,594,119 3,058,251 3,151,147 3,040,193
Depreciation 230,662 273,528 18.58 51,293 -81.25 61,577 20.05 65,683 6.67 -27.0
P.B.I.T. 1,238,648 1,320,591 3,006,958 3,089,570 2,974,510
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) -123,008 -124,755 1.42 -308,557 147.33 -307,853 -0.23 -308,092 0.08
Pre-tax Profit 1,115,640 1,195,836 2,698,401 2,781,717 2,666,418

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,025,152 500,100 -51.22 200,872 -59.83 285,638 42.20 213,261 -25.34 -32.5
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 490,057 995,145 103.07 184,941 -81.42 0 -100.00 0 n/a -100.0
Investment in Programming 139,262 0 -100.00 0 n/a 0 n/a 0 n/a -100.0
Total Canadian Programming 1,654,471 1,495,245 -9.62 385,813 -74.20 285,638 -25.96 213,261 -25.34 -40.1
Canadian Programming/Revenue (%) 38.62 35.16 8.51 6.38 4.63

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 103,763 126,600 22.01 107,966 -14.72 26,872 -75.11 2 -99.99 -93.4
Total Staff Count 1 1.33 33.00 2 50.38 0.45 -77.50 0 -100.00
Avg Remuneration 103,763 95,188 -8.26 53,983 -43.29 59,716 10.62 n/a n/a n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 987,292 969,000 -1.85 946,165 -2.36 885,479 -6.41 823,283 -7.02 -4.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 34.3 37.5 67.4 70.4 66.0
P.B.I.T. Margin 28.9 31.1 66.3 69.0 64.6
Pre-tax Margin 26.0 28.1 59.5 62.1 57.9
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