Comedy Gold (formerly TV Land)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
405426314 Comedy Gold (formerly TV Land) Bell Media Inc. BCE Inc. Specialty (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 1,763,990 1,766,790 0.16 1,800,805 1.93 1,937,613 7.60 2,038,598 5.21 3.7
DTH revenue 630,411 621,431 -1.42 1,315,276 111.65 1,732,986 31.76 1,481,781 -14.50 23.8
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 536,432 863,501 60.97 1,098,409 27.20 1,459,282 32.85 1,208,802 -17.16 22.5
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 2,930,833 3,251,722 10.95 4,214,490 29.61 5,129,881 21.72 4,729,181 -7.81 12.7

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 1,105,708 635,510 -42.52 1,199,664 88.77 1,085,366 -9.53 1,175,110 8.27 1.5
Technical 230,273 233,109 1.23 244,893 5.06 256,193 4.61 245,553 -4.15 1.6
Sales and Promotion 88,778 82,526 -7.04 106,188 28.67 114,990 8.29 58,516 -49.11 -9.9
Administration and General 295,002 201,979 -31.53 197,426 -2.25 224,463 13.69 217,801 -2.97 -7.3
Total Expenses 1,719,761 1,153,124 -32.95 1,748,171 51.60 1,681,012 -3.84 1,696,980 0.95 -0.3

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,211,072 2,098,598 2,466,319 3,448,869 3,032,201
Depreciation 168,068 218,565 30.05 66,811 -69.43 70,522 5.55 67,426 -4.39 -20.4
P.B.I.T. 1,043,004 1,880,033 2,399,508 3,378,347 2,964,775
Interest Expense 0 199,000 n/a 0 -100.00 0 n/a 0 n/a
Adjustments - Gain (Loss) -84,596 0 -100.00 -286,678 n/a -474,856 65.64 -412,875 -13.05
Pre-tax Profit 958,408 1,681,033 2,112,830 2,903,491 2,551,900

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 67,500 125,000 85.19 66,293 -46.97 139,567 110.53 236,549 69.49 36.8
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 0 0 n/a 121,374 n/a 0 -100.00 0 n/a n/a
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 67,500 125,000 85.19 187,667 50.13 139,567 -25.63 236,549 69.49 36.8
Canadian Programming/Revenue (%) 2.30 3.84 4.45 2.72 5.00

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 25,041 21,469 -14.26 46,943 118.65 9,221 -80.36 0 -100.00 -100.0
Total Staff Count 0.5 0.51 2.00 1 96.08 0.15 -85.00 0 -100.00
Avg Remuneration 50,082 42,096 -15.95 46,943 11.51 61,473 30.95 n/a n/a n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 941,215 968,217 2.87 943,722 -2.53 894,185 -5.25 839,127 -6.16 -2.8

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 41.3 64.5 58.5 67.2 64.1
P.B.I.T. Margin 35.6 57.8 56.9 65.9 62.7
Pre-tax Margin 32.7 51.7 50.1 56.6 54.0
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