Pay and Specialty - MTS Video on Demand

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
535418132 MTS Video on Demand MTS Inc. Manitoba Telecom Services Inc. Video-on-Demand 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 3,382,461 3,318,968 -1.88 3,315,475 -0.11 3,089,318 -6.82 2,880,809 -6.75 -3.9
DTH revenue 0 0 0 0 0
Local advertising revenue 0 0 0 0 0
National advertising revenue 0 0 0 0 0
Other revenue 0 0 0 0 0
Total Revenue 3,382,461 3,318,968 -1.88 3,315,475 -0.11 3,089,318 -6.82 2,880,809 -6.75 -3.9

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 2,437,212 3,038,325 24.66 2,742,549 -9.73 2,361,441 -13.90 2,332,739 -1.22 -1.1
Technical 1,150,309 944,438 -17.90 1,338,123 41.68 1,063,139 -20.55 1,030,034 -3.11 -2.7
Sales and Promotion 626,270 456,435 -27.12 488,794 7.09 405,304 -17.08 281,609 -30.52 -18.1
Administration and General 303,478 222,085 -26.82 238,406 7.35 200,409 -15.94 176,324 -12.02 -12.7
Total Expenses 4,517,269 4,661,283 3.19 4,807,872 3.14 4,030,293 -16.17 3,820,706 -5.20 -4.1

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income -1,134,808 -1,342,315 -1,492,397 -940,975 -939,897
Depreciation 0 0 0 0 0
P.B.I.T. -1,134,808 -1,342,315 -1,492,397 -940,975 -939,897
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit -1,134,808 -1,342,315 -1,492,397 -940,975 -939,897

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 761,799 1,362,334 78.83 1,176,889 -13.61 1,024,745 -12.93 757,309 -26.10 -0.2
Script & concept 0 0 0 0 0
Filler Programming + Program Production 0 0 0 0 0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 761,799 1,362,334 78.83 1,176,889 -13.61 1,024,745 -12.93 757,309 -26.10 -0.2
Canadian Programming/Revenue (%) 22.52 41.05 35.50 33.17 26.29

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 672,334 478,525 -28.83 513,660 7.34 466,709 -9.14 375,318 -19.58 -13.6
Average Staff Count 10.83 7.5 -30.75 7.36 -1.87 6.67 -9.38 5.1 -23.54
Avg Remuneration ($) 62,081 63,803 2.77 69,791 9.38 69,971 0.26 73,592 5.17 4.3

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 -33.5 -40.4 -45.0 -30.5 -32.6
P.B.I.T. Margin -33.5 -40.4 -45.0 -30.5 -32.6
Pre-tax Margin -33.5 -40.4 -45.0 -30.5 -32.6

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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