Pay and Specialty - ICI ARTV

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
205423734 ICI ARTV ARTV inc.
Canadian Broadcasting Corporation
Canadian Broadcasting Corporation Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 10,780,876 10,738,642 -0.39 10,482,694 -2.38 9,997,759 -4.63 8,930,635 -10.67 -4.6
DTH revenue 3,258,059 2,954,516 -9.32 2,666,495 -9.75 2,436,499 -8.63 2,140,865 -12.13 -10.0
Local advertising revenue 0 0 0 0 0
National advertising revenue 3,174,700 3,541,892 11.57 3,735,430 5.46 3,399,739 -8.99 2,529,998 -25.58 -5.5
Other revenue 0 0 0 0 0
Total Revenue 17,213,635 17,235,050 0.12 16,884,619 -2.03 15,833,997 -6.22 13,601,498 -14.10 -5.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 12,881,244 12,703,549 -1.38 12,938,749 1.85 11,692,829 -9.63 10,768,218 -7.91 -4.4
Technical 1,250,897 1,256,179 0.42 1,215,998 -3.20 917,674 -24.53 932,197 1.58 -7.1
Sales and Promotion 1,864,196 1,962,791 5.29 1,997,516 1.77 1,956,260 -2.07 1,887,102 -3.54 0.3
Administration and General 973,467 882,248 -9.37 897,947 1.78 1,056,301 17.64 988,226 -6.44 0.4
Total Expenses 16,969,804 16,804,767 -0.97 17,050,210 1.46 15,623,064 -8.37 14,575,743 -6.70 -3.7

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 243,831 430,283 -165,591 210,933 -974,245
Depreciation 65,923 106,114 60.97 115,316 8.67 93,911 -18.56 90,206 -3.95 8.2
P.B.I.T. 177,908 324,169 -280,907 117,022 -1,064,451
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 22,032 80,973 267.52 80,313 -0.82 89,801 11.81 406,374 352.53
Pre-tax Profit 199,940 405,142 -200,594 206,823 -658,077

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 6,775,417 6,678,148 -1.44 6,827,757 2.24 6,126,320 -10.27 6,866,496 12.08 0.3
Script & concept 25,206 72,800 188.82 66,415 -8.77 72,070 8.51 33,292 -53.81 7.2
Filler Programming + Program Production 4,101,217 3,931,972 -4.13 4,000,277 1.74 3,673,534 -8.17 2,496,915 -32.03 -11.7
Investment in Programming 0 0 0 0 0
Total Canadian Programming 10,901,840 10,682,920 -2.01 10,894,449 1.98 9,871,924 -9.39 9,396,703 -4.81 -3.7
Canadian Programming/Revenue (%) 63.33 61.98 64.52 62.35 69.09

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 3,257,248 3,052,423 -6.29 3,158,458 3.47 3,143,263 -0.48 2,852,143 -9.26 -3.3
Average Staff Count 46 42 -8.70 42 0.00 40 -4.76 38.2 -4.50
Avg Remuneration ($) 70,810 72,677 2.64 75,201 3.47 78,582 4.49 74,663 -4.99 1.3

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 2,116,883 2,072,523 -2.10 2,025,432 -2.27 2,026,315 0.04 1,792,141 -11.56 -4.1

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 1.4 2.5 -1.0 1.3 -7.2
P.B.I.T. Margin 1.0 1.9 -1.7 0.7 -7.8
Pre-tax Margin 1.2 2.4 -1.2 1.3 -4.8

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

Date modified: