Pay and Specialty - Sportsnet 360 (formerly The Score)

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
305417356 Sportsnet 360 (formerly The Score) Rogers Media Inc. Rogers Communications Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 11,011,374 10,898,244 -1.03 11,410,901 4.70 11,447,682 0.32 16,472,760 43.90 10.6
DTH revenue 3,984,544 3,466,290 -13.01 4,164,772 20.15 4,737,020 13.74 5,339,075 12.71 7.6
Local advertising revenue 0 0 0 0 0
National advertising revenue 27,993,128 28,248,857 0.91 25,619,253 -9.31 12,446,815 -51.42 13,060,736 4.93 -17.4
Other revenue 636,985 475,854 -25.30 460,233 -3.28 679,675 47.68 228,627 -66.36 -22.6
Total Revenue 43,626,031 43,089,245 -1.23 41,655,159 -3.33 29,311,192 -29.63 35,101,198 19.75 -5.3

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 20,116,304 25,882,893 28.67 20,663,260 -20.17 21,912,028 6.04 27,795,610 26.85 8.4
Technical 3,355,720 4,364,230 30.05 2,510,560 -42.47 4,099,957 63.31 4,167,570 1.65 5.6
Sales and Promotion 3,219,465 3,556,241 10.46 2,480,066 -30.26 2,061,470 -16.88 2,164,226 4.98 -9.5
Administration and General 5,924,261 1,304,679 -77.98 19,705,116 >999± 4,891,240 -75.18 3,074,508 -37.14 -15.1
Total Expenses 32,615,750 35,108,043 7.64 45,359,002 29.20 32,964,695 -27.32 37,201,914 12.85 3.3

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 11,010,281 7,981,202 -3,703,843 -3,653,503 -2,100,716
Depreciation 3,321,523 2,642,217 -20.45 1,554,094 -41.18 3,296,895 112.14 2,846,984 -13.65 -3.8
P.B.I.T. 7,688,758 5,338,985 -5,257,937 -6,950,398 -4,947,700
Interest Expense 0 0 109,557 378,742 245.70 0 -100.00
Adjustments - Gain (Loss) -139,722 -170,985 22.38 -3,823 -97.76 0 -100.00 0
Pre-tax Profit 7,549,036 5,168,000 -5,371,317 -7,329,140 -4,947,700

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0 597,344 0 -100.00 3,371,993
Script & concept 0 0 0 0 0
Filler Programming + Program Production 15,914,385 20,219,253 27.05 17,080,702 -15.52 18,584,510 8.80 14,756,126 -20.60 -1.9
Investment in Programming 0 0 0 0 0
Total Canadian Programming 15,914,385 20,219,253 27.05 17,678,046 -12.57 18,584,510 5.13 18,128,119 -2.46 3.3
Canadian Programming/Revenue (%) 36.48 46.92 42.44 63.40 51.65

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 11,306,565 10,578,634 -6.44 13,226,590 25.03 9,264,697 -29.95 10,274,188 10.90 -2.4
Average Staff Count 172 162 -5.81 149 -8.02 118 -20.81 123.25 4.45
Avg Remuneration ($) 65,736 65,300 -0.66 88,769 35.94 78,514 -11.55 83,361 6.17 6.1

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 6,639,501 6,731,693 1.39 6,041,000 -10.26 5,869,000 -2.85 5,694,000 -2.98 -3.8

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 25.2 18.5 -8.9 -12.5 -6.0
P.B.I.T. Margin 17.6 12.4 -12.6 -23.7 -14.1
Pre-tax Margin 17.3 12.0 -12.9 -25.0 -14.1

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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