Pay and Specialty - Space (formerly Space: The Imagination Station)

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
305417306 Space (formerly Space: The Imagination Station) Bell Media Inc. BCE Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 16,617,021 16,796,893 1.08 16,714,085 -0.49 18,640,373 11.52 17,390,266 -6.71 1.1
DTH revenue 5,283,389 5,674,387 7.40 5,906,835 4.10 5,865,694 -0.70 5,724,826 -2.40 2.0
Local advertising revenue 0 0 0 0 0
National advertising revenue 27,615,072 27,582,371 -0.12 27,638,399 0.20 26,527,579 -4.02 31,765,179 19.74 3.6
Other revenue 263,626 92,206 -65.02 14,670 -84.09 52,588 258.47 60,000 14.09 -30.9
Total Revenue 49,779,108 50,145,857 0.74 50,273,989 0.26 51,086,234 1.62 54,940,271 7.54 2.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 22,532,359 18,367,094 -18.49 24,728,320 34.63 25,498,668 3.12 17,903,801 -29.79 -5.6
Technical 1,531,759 1,426,726 -6.86 1,374,150 -3.69 1,344,777 -2.14 1,183,783 -11.97 -6.2
Sales and Promotion 2,592,403 2,492,057 -3.87 2,996,612 20.25 2,291,021 -23.55 2,351,927 2.66 -2.4
Administration and General 3,913,623 3,306,103 -15.52 3,184,090 -3.69 3,782,557 18.80 4,115,939 8.81 1.3
Total Expenses 30,570,144 25,591,980 -16.28 32,283,172 26.15 32,917,023 1.96 25,555,450 -22.36 -4.4

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 19,208,964 24,553,877 17,990,817 18,169,211 29,384,821
Depreciation 3,346,856 1,123,127 -66.44 741,071 -34.02 771,387 4.09 912,774 18.33 -27.7
P.B.I.T. 15,862,108 23,430,750 17,249,746 17,397,824 28,472,047
Interest Expense 0 0 0 8 866 >999±
Adjustments - Gain (Loss) -1,452,451 -3,404,749 134.41 -3,454,291 1.46 -5,235,231 51.56 -5,104,058 -2.51
Pre-tax Profit 14,409,657 20,026,001 13,795,455 12,162,585 23,367,123

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 10,379,380 7,965,257 -23.26 14,115,325 77.21 12,971,014 -8.11 3,339,810 -74.25 -24.7
Script & concept 60,000 86,667 44.45 100,000 15.38 34,945 -65.06 0 -100.00 -100.0
Filler Programming + Program Production 2,907,621 4,867,235 67.40 3,423,025 -29.67 3,654,848 6.77 3,220,182 -11.89 2.6
Investment in Programming 103,675 0 -100.00 0 0 0 -100.0
Total Canadian Programming 13,450,676 12,919,159 -3.95 17,638,350 36.53 16,660,807 -5.54 6,559,992 -60.63 -16.4
Canadian Programming/Revenue (%) 27.02 25.76 35.08 32.61 11.94

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 1,363,417 1,724,502 26.48 1,820,195 5.55 2,320,504 27.49 1,803,838 -22.27 7.3
Average Staff Count 18 18 0.00 18.08 0.44 29.92 65.49 25 -16.44
Avg Remuneration ($) 75,745 95,806 26.48 100,675 5.08 77,557 -22.96 72,154 -6.97 -1.2

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 6,871,328 6,678,905 -2.80 6,562,605 -1.74 6,355,043 -3.16 6,096,674 -4.07 -3.0

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 38.6 49.0 35.8 35.6 53.5
P.B.I.T. Margin 31.9 46.7 34.3 34.1 51.8
Pre-tax Margin 28.9 39.9 27.4 23.8 42.5

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

Date modified: