Pay and Specialty - Smithsonian Channel (formerly eqhd)

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
535422357 Smithsonian Channel (formerly eqhd) Blue Ant Television Ltd. Blue Ant Media Inc. 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 3,212,788 3,341,900 4.02 3,511,990 5.09 3,926,374 11.80 4,304,032 9.62 7.6

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 637,746 1,428,296 123.96 1,211,853 -15.15 1,367,063 12.81 1,629,738 19.21 26.4
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 166,570 209,524 25.79 230,865 10.19 94,683 -58.99 264,209 179.05 12.2
Script & concept 0 0 0 0 0
Filler Programming + Program Production 0 316,176 423,135 33.83 418,906 -1.00 487,177 16.30
Investment in Programming 0 0 83 0 -100.00 0
Total Canadian Programming 166,570 525,700 215.60 654,083 24.42 513,589 -21.48 751,386 46.30 45.7
Canadian Programming/Revenue (%) 5.18 15.73 18.62 13.08 17.46

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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