CBC News Network (formerly Newsworld)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
334805116 CBC News Network (formerly Newsworld) Canadian Broadcasting Corporation Canadian Broadcasting Corporation Specialty (category C service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 52,765,317 50,470,964 -4.35 50,983,039 1.01 50,606,511 -0.74 49,995,158 -1.21 -1.3
DTH revenue 17,150,798 17,141,019 -0.06 17,644,637 2.94 17,730,568 0.49 18,783,518 5.94 2.3
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 15,580,880 14,547,453 -6.63 17,472,969 20.11 18,462,152 5.66 19,538,932 5.83 5.8
Other revenue 0 55,298 n/a 57,017 3.11 0 -100.00 1,634,816 n/a
Total Revenue 85,496,995 82,214,734 -3.84 86,157,662 4.80 86,799,231 0.74 89,952,424 3.63 1.3

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 62,056,415 65,399,654 5.39 62,083,219 -5.07 57,861,322 -6.80 59,879,627 3.49 -0.9
Technical 2,570,624 2,524,631 -1.79 2,349,917 -6.92 2,390,084 1.71 2,419,186 1.22 -1.5
Sales and Promotion 3,478,231 3,146,216 -9.55 2,598,682 -17.40 2,493,464 -4.05 3,621,347 45.23 1.0
Administration and General 1,106,445 1,176,914 6.37 1,543,817 31.18 1,708,143 10.64 7,497,050 338.90 61.3
Total Expenses 69,211,715 72,247,415 4.39 68,575,635 -5.08 64,453,013 -6.01 73,417,210 13.91 1.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 16,285,280 9,967,319 17,582,027 22,346,218 16,535,214
Depreciation 2,533,480 2,823,222 11.44 2,521,273 -10.70 1,975,599 -21.64 2,805,992 42.03 2.6
P.B.I.T. 13,751,800 7,144,097 15,060,754 20,370,619 13,729,222
Interest Expense 0 0 n/a 0 n/a 0 n/a 495,026 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a -2,946,358 n/a
Pre-tax Profit 13,751,800 7,144,097 15,060,754 20,370,619 10,287,838

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,490,004 1,797,193 20.62 17,900 -99.00 14,683 -17.97 0 -100.00 -100.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 59,691,999 61,951,706 3.79 61,333,069 -1.00 57,333,435 -6.52 55,941,863 -2.43 -1.6
Investment in Programming 0 15,350 n/a 4,601 -70.03 0 -100.00 0 n/a n/a
Total Canadian Programming 61,182,003 63,764,249 4.22 61,355,570 -3.78 57,348,118 -6.53 55,941,863 -2.45 -2.2
Canadian Programming/Revenue (%) 71.56 77.56 71.21 66.07 62.19

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 35,939,099 33,312,217 -7.31 32,701,718 -1.83 33,142,515 1.35 48,033,626 44.93 7.5
Total Staff Count 392 342 -12.76 338 -1.17 329.1 -2.63 468 42.21
Avg Remuneration 91,681 97,404 6.24 96,751 -0.67 100,707 4.09 102,636 1.92 2.9

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 10,891,175 11,165,366 2.52 11,362,597 1.77 11,336,559 -0.23 11,376,354 0.35 1.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 19.0 12.1 20.4 25.7 18.4
P.B.I.T. Margin 16.1 8.7 17.5 23.5 15.3
Pre-tax Margin 16.1 8.7 17.5 23.5 11.4
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