CINÉPOP (formerly Cinémania)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
205426720 CINÉPOP (formerly Cinémania) Bell Media Inc. BCE Inc. Pay-TV (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 2,955,903 4,088,550 38.32 5,175,500 26.59 5,981,216 15.57 6,739,001 12.67 22.9
DTH revenue 2,628,120 2,862,805 8.93 3,174,530 10.89 3,377,923 6.41 3,563,104 5.48 7.9
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other revenue 0 0 n/a 9,559 n/a 0 -100.00 0 n/a
Total Revenue 5,584,023 6,951,355 24.49 8,359,589 20.26 9,359,139 11.96 10,302,105 10.08 16.6

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 2,898,118 3,122,974 7.76 3,441,825 10.21 3,808,518 10.65 3,649,716 -4.17 5.9
Technical 647,692 702,118 8.40 745,422 6.17 772,142 3.58 549,029 -28.90 -4.1
Sales and Promotion 871,128 495,446 -43.13 592,435 19.58 444,705 -24.94 113,240 -74.54 -40.0
Administration and General 127,946 155,584 21.60 215,047 38.22 159,773 -25.70 312,991 95.90 25.1
Total Expenses 4,544,884 4,476,122 -1.51 4,994,729 11.59 5,185,138 3.81 4,624,976 -10.80 0.4

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,039,139 2,475,233 3,364,860 4,174,001 5,677,129
Depreciation 1,031 19,906 >999± 7,600 -61.82 0 -100.00 106,519 n/a 218.8
P.B.I.T. 1,038,108 2,455,327 3,357,260 4,174,001 5,570,610
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 1,038,108 2,455,327 3,357,260 4,174,001 5,570,610

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 293,577 422,422 43.89 502,930 19.06 571,089 13.55 838,641 46.85 30.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 1,148,684 1,145,130 -0.31 1,302,492 13.74 1,342,813 3.10 926,096 -31.03 -5.2
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 1,442,261 1,567,552 8.69 1,805,422 15.17 1,913,902 6.01 1,764,737 -7.79 5.2
Canadian Programming/Revenue (%) 25.83 22.55 21.60 20.45 17.13

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 329,013 387,130 17.66 360,896 -6.78 356,963 -1.09 255,354 -28.46 -6.1
Total Staff Count 5 5 0.00 5 0.00 5 0.00 4 -20.00
Avg Remuneration 65,803 77,426 17.66 72,179 -6.78 71,393 -1.09 63,839 -10.58 -0.8

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 696,698 881,155 26.48 995,206 12.94 1,092,007 9.73 1,180,445 8.10 14.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 18.6 35.6 40.3 44.6 55.1
P.B.I.T. Margin 18.6 35.3 40.2 44.6 54.1
Pre-tax Margin 18.6 35.3 40.2 44.6 54.1
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