Pay and Specialty - OUTtv (formerly PrideVision)

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
305423973 OUTtv (formerly PrideVision) OUTtv Network Inc. OUT Broadcasting Corporation Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 1,080,230 1,997,254 84.89 3,119,560 56.19 3,090,991 -0.92 3,052,894 -1.23 29.7
DTH revenue 1,932,466 1,866,709 -3.40 1,867,411 0.04 1,848,171 -1.03 1,739,296 -5.89 -2.6
Local advertising revenue 0 0 0 0 0
National advertising revenue 173,567 81,228 -53.20 102,712 26.45 184,743 79.87 247,191 33.80 9.2
Other revenue 83,191 28,412 -65.85 143,327 404.46 747,886 421.80 121,200 -83.79 9.9
Total Revenue 3,269,454 3,973,603 21.54 5,233,010 31.69 5,871,791 12.21 5,160,581 -12.11 12.1

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 1,908,791 2,209,186 15.74 2,804,268 26.94 2,797,191 -0.25 2,539,796 -9.20 7.4
Technical 886,118 890,651 0.51 943,201 5.90 1,082,044 14.72 790,893 -26.91 -2.8
Sales and Promotion 162,038 356,169 119.81 575,945 61.71 564,295 -2.02 448,502 -20.52 29.0
Administration and General 334,401 337,473 0.92 622,779 84.54 880,412 41.37 1,115,029 26.65 35.1
Total Expenses 3,291,348 3,793,479 15.26 4,946,193 30.39 5,323,942 7.64 4,894,220 -8.07 10.4

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income -21,894 180,124 286,817 547,849 266,361
Depreciation 29,732 24,581 -17.32 23,441 -4.64 32,311 37.84 1,322,830 >999± 158.3
P.B.I.T. -51,626 155,543 263,376 515,538 -1,056,469
Interest Expense 35,832 40,840 13.98 46,476 13.80 56,228 20.98 51,344 -8.69
Adjustments - Gain (Loss) -5,597 0 -100.00 -29,207 0 -100.00 0
Pre-tax Profit -93,055 114,703 187,693 459,310 -1,107,813

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 784,255 760,095 -3.08 692,394 -8.91 1,891,515 173.18 1,575,956 -16.68 19.1
Script & concept 0 0 0 155,200 0 -100.00
Filler Programming + Program Production 675,620 838,965 24.18 1,209,535 44.17 396,566 -67.21 513,929 29.59 -6.6
Investment in Programming 0 0 0 0 0
Total Canadian Programming 1,459,875 1,599,060 9.53 1,901,929 18.94 2,443,281 28.46 2,089,885 -14.46 9.4
Canadian Programming/Revenue (%) 44.65 40.24 36.34 41.61 40.50

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 528,007 509,419 -3.52 710,466 39.47 848,561 19.44 1,249,382 47.24 24.0
Average Staff Count 7 8 14.29 10 25.00 11 10.00 13 18.18
Avg Remuneration ($) 75,430 63,677 -15.58 71,047 11.57 77,142 8.58 96,106 24.58 6.2

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 630,929 939,200 48.86 1,026,169 9.26 990,300 -3.50 914,962 -7.61 9.7

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin -0.7 4.5 5.5 9.3 5.2
P.B.I.T. Margin -1.6 3.9 5.0 8.8 -20.5
Pre-tax Margin -2.8 2.9 3.6 7.8 -21.5

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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