Documentary (formerly The Canadian Documentary Channel)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305423965 Documentary (formerly The Canadian Documentary Channel) The Canadian Documentary Channel Limited Partnersh Canadian Broadcasting Corporation Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 2,517,828 2,530,657 0.51 3,187,513 25.96 3,316,105 4.03 3,426,097 3.32 8.0
DTH revenue 2,791,915 2,735,263 -2.03 2,640,874 -3.45 2,729,270 3.35 2,850,923 4.46 0.5
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 97,729 176,558 80.66 186,278 5.51 274,837 47.54 270,325 -1.64 29.0
Other revenue 86,575 63,205 -26.99 3,243 -94.87 592 -81.75 4,909 729.22
Total Revenue 5,494,047 5,505,683 0.21 6,017,908 9.30 6,320,804 5.03 6,552,254 3.66 4.5

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 2,805,920 2,558,112 -8.83 2,764,550 8.07 2,878,598 4.13 3,314,613 15.15 4.3
Technical 1,214,758 1,234,684 1.64 1,215,982 -1.51 1,239,365 1.92 1,254,565 1.23 0.8
Sales and Promotion 561,831 436,036 -22.39 514,638 18.03 572,571 11.26 514,502 -10.14 -2.2
Administration and General 594,714 594,285 -0.07 636,279 7.07 617,375 -2.97 622,446 0.82 1.2
Total Expenses 5,177,223 4,823,117 -6.84 5,131,449 6.39 5,307,909 3.44 5,706,126 7.50 2.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 316,824 682,566 886,459 1,012,895 846,128
Depreciation 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
P.B.I.T. 316,824 682,566 886,459 1,012,895 846,128
Interest Expense 43,903 59,103 34.62 30,672 -48.10 0 -100.00 0 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 272,921 623,463 855,787 1,012,895 846,128

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,633,874 1,371,297 -16.07 1,536,289 12.03 1,462,783 -4.78 1,593,223 8.92 -0.6
Script & concept 116,532 215,788 85.17 304,750 41.23 357,294 17.24 633,370 77.27 52.7
Filler Programming + Program Production 451,380 471,781 4.52 558,300 18.34 584,058 4.61 597,936 2.38 7.3
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 2,201,786 2,058,866 -6.49 2,399,339 16.54 2,404,135 0.20 2,824,529 17.49 6.4
Canadian Programming/Revenue (%) 40.08 37.40 39.87 38.04 43.11

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 647,095 711,563 9.96 666,738 -6.30 778,773 16.80 866,587 11.28 7.6
Total Staff Count 8 8 0.00 7.5 -6.25 8.25 10.00 8.75 6.06
Avg Remuneration 80,887 88,945 9.96 88,898 -0.05 94,397 6.18 99,039 4.92 5.2

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,289,832 2,563,944 11.97 2,669,402 4.11 2,697,178 1.04 2,692,691 -0.17 4.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 5.8 12.4 14.7 16.0 12.9
P.B.I.T. Margin 5.8 12.4 14.7 16.0 12.9
Pre-tax Margin 5.0 11.3 14.2 16.0 12.9
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