Pay and Specialty - Hustler TV (Formerly TEN Channel 1/Hustler 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
305424723 Hustler TV (Formerly TEN Channel 1/Hustler Channel) TEN Broadcasting Inc. Duncan, Stuart 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 1,877,611 1,634,376 -12.95 1,384,344 -15.30 1,138,790 -17.74 999,381 -12.24 -14.6

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 613,088 588,238 -4.05 402,500 -31.58 349,497 -13.17 302,286 -13.51 -16.2
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 5,981 6,354 6.24 0 -100.00 0 0 -100.0
Script & concept 113,845 157,604 38.44 88,896 -43.60 77,444 -12.88 67,094 -13.36 -12.4
Filler Programming + Program Production 341,534 322,812 -5.48 266,687 -17.39 232,332 -12.88 201,283 -13.36 -12.4
Investment in Programming 106,461 73,961 -30.53 28,879 -60.95 25,318 -12.33 21,921 -13.42 -32.6
Total Canadian Programming 567,821 560,731 -1.25 384,462 -31.44 335,094 -12.84 290,298 -13.37 -15.4
Canadian Programming/Revenue (%) 30.24 34.31 27.77 29.43 29.05

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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