Pay and Specialty - Public Affairs programming/coverage of the HOC proceedings

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
535437455 Public Affairs programming/coverage of the HOC proceedings Cable Public Affairs Channel Inc. Cable Public Affairs Channel Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 11,685,082 11,550,827 -1.15
DTH revenue 4,165,574 4,573,862 9.80
Local advertising revenue 0 0
National advertising revenue 0 0
Other revenue 89,603 128,201 43.08
Total Revenue 15,940,259 16,252,890 1.96

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 7,855,481 8,639,118 9.98
Technical 1,862,547 2,085,460 11.97
Sales and Promotion 1,636,807 1,560,403 -4.67
Administration and General 1,405,225 1,498,453 6.63
Total Expenses 12,760,060 13,783,434 8.02

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 3,180,199 2,469,456
Depreciation 1,396,555 2,071,160 48.30
P.B.I.T. 1,783,644 398,296
Interest Expense 0 5,839
Adjustments - Gain (Loss) 3,639 5,276 44.98
Pre-tax Profit 1,787,283 397,733

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0
Script & concept 56,228 71,188 26.61
Filler Programming + Program Production 7,787,515 8,492,511 9.05
Investment in Programming 4,913 28,755 485.28
Total Canadian Programming 7,848,656 8,592,454 9.48
Canadian Programming/Revenue (%) 49.24 52.87

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 6,009,354 7,227,422 20.27
Average Staff Count 80 81.75 2.19
Avg Remuneration ($) 75,117 88,409 17.69

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 11,329,534 11,169,411 -1.41

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 20.0 15.2
P.B.I.T. Margin 11.2 2.5
Pre-tax Margin 11.2 2.4

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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