Pay and Specialty - HIFI (formerly Treasure HD)

Individual Pay, Pay-per-view, Video-on-demand and Specialty Services - Financial Summary 2011-2015

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535420898 HIFI (formerly Treasure HD) Blue Ant Television Ltd. Blue Ant Media Inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue
DTH revenue
Local advertising revenue
National advertising revenue
Other revenue
Total Revenue 3,399,917 3,535,642 3.99 3,573,111 1.06 4,005,254 12.09 4,364,881 8.98 6.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 1,259,639 1,353,099 7.42 1,765,806 30.50 1,589,792 -9.97 1,678,456 5.58 7.4
Technical
Sales and Promotion
Administration and General
Total Expenses

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income
Depreciation
P.B.I.T.
Interest Expense
Adjustments - Gain (Loss)
Pre-tax Profit

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 156,633 344,311 119.82 167,198 -51.44 96,788 -42.11 69,144 -28.56 -18.5
Script & concept 0 0 0 0 0
Filler Programming + Program Production 250,000 261,642 4.66 623,656 138.36 808,816 29.69 978,091 20.93 40.6
Investment in Programming 0 18,889 0 -100.00 0 0
Total Canadian Programming 406,633 624,842 53.66 790,854 26.57 905,604 14.51 1,047,235 15.64 26.7
Canadian Programming/Revenue (%) 11.96 17.67 22.13 22.61 23.99

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($)
Average Staff Count
Avg Remuneration ($)

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin
P.B.I.T. Margin
Pre-tax Margin

CAGR = Compound Annual Growth Rate

DTH = Direct-to-Home

SMATV = Satellite Master Atenna Television

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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