Pay and Specialty - AMI-tv (formerly The Accessible Channel)

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
535425674 AMI-tv (formerly The Accessible Channel) Accessible Media Inc. Accessible Media Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue           12,769,802   12,904,403    
DTH revenue 5,534,052 5,420,227
Local advertising revenue 0 0
National advertising revenue 0 0
Other revenue 18,546 35,344
Total Revenue 15,883,484 17,196,741 8.27 17,431,020 1.36 18,322,400 5.11 18,359,974 0.21 3.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 6,140,443 9,370,793 52.61 10,049,581 7.24 10,703,622 6.51 10,698,527 -0.05 14.9
Technical 2,347,607 1,836,152
Sales and Promotion 1,479,448 1,542,913
Administration and General 2,070,237 1,874,187
Total Expenses 16,600,914 15,951,779

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income           1,721,486   2,408,195    
Depreciation 828,959 547,933
P.B.I.T. 892,527 1,860,262
Interest Expense 0 0
Adjustments - Gain (Loss) -151,342 -27,271
Pre-tax Profit 741,185 1,832,991

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 2,290,938 4,586,143 100.19 4,069,196 -11.27 4,337,306 6.59 4,898,859 12.95 20.9
Script & concept 0 0 0 0 0
Filler Programming + Program Production 1,807,221 2,905,558 60.77 3,566,014 22.73 4,363,250 22.36 3,865,728 -11.40 20.9
Investment in Programming 0 0 0 0 0
Total Canadian Programming 4,098,159 7,491,701 82.81 7,635,210 1.92 8,700,556 13.95 8,764,587 0.74 20.9
Canadian Programming/Revenue (%) 25.80 43.56 43.80 47.49 47.74

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($)           5,730,198   4,877,969    
Average Staff Count 71.6 55.52
Avg Remuneration ($) 80,031 87,860

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 7,745,131 7,625,230

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin           9.4   13.1    
P.B.I.T. Margin 4.9 10.1
Pre-tax Margin 4.0 10.0

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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