Pay and Specialty - Sportsnet One (formerly Rogers Sportsnet One)

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
535429527 Sportsnet One (formerly Rogers Sportsnet One) Rogers Media Inc. Rogers Communications Inc. Specialty (category C service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 31,240,188 41,256,161 32.06 48,840,072 18.38 51,239,514 4.91 56,969,142 11.18 16.2
DTH revenue 13,117,813 18,161,169 38.45 17,931,810 -1.26 18,893,084 5.36 19,474,512 3.08 10.4
Local advertising revenue 0 0 0 0 0
National advertising revenue 2,452,443 3,212,069 30.97 4,051,088 26.12 3,074,445 -24.11 5,340,361 73.70 21.5
Other revenue 5,669,929 5,803,661 2.36 5,476,750 -5.63 5,644,800 3.07 5,123,064 -9.24 -2.5
Total Revenue 52,480,373 68,433,060 30.40 76,299,720 11.50 78,851,843 3.34 86,907,079 10.22 13.4

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 48,463,261 38,660,290 -20.23 39,926,528 3.28 42,692,466 6.93 48,633,555 13.92 0.1
Technical 58,541 59,392 1.45 62,539 5.30 61,601 -1.50 155,331 152.16 27.6
Sales and Promotion 1,423,227 102,574 -92.79 174,447 70.07 131,398 -24.68 268,261 104.16 -34.1
Administration and General 1,173,374 1,118,755 -4.65 1,395,528 24.74 1,859,229 33.23 1,896,000 1.98 12.8
Total Expenses 51,118,403 39,941,011 -21.87 41,559,042 4.05 44,744,694 7.67 50,953,147 13.88 -0.1

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,361,970 28,492,049 34,740,678 34,107,149 35,953,932
Depreciation 0 0 0 0 0
P.B.I.T. 1,361,970 28,492,049 34,740,678 34,107,149 35,953,932
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 1,361,970 28,492,049 34,740,678 34,107,149 35,953,932

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 33,388,438 30,759,803 -7.87 30,620,205 -0.45 31,978,359 4.44 38,223,256 19.53 3.4
Script & concept 0 0 0 0 0
Filler Programming + Program Production 12,572,228 5,698,584 -54.67 5,640,146 -1.03 4,531,192 -19.66 1,031,909 -77.23 -46.5
Investment in Programming 0 0 0 0 0
Total Canadian Programming 45,960,666 36,458,387 -20.67 36,260,351 -0.54 36,509,551 0.69 39,255,165 7.52 -3.9
Canadian Programming/Revenue (%) 87.58 53.28 47.52 46.30 45.17

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 3,731,096 649,186 -82.60 430,459 -33.69 448,321 4.15 719,348 60.45 -33.7
Average Staff Count 49 13 -73.47 13 0.00 8 -38.46 9 12.50
Avg Remuneration ($) 76,145 49,937 -34.42 33,112 -33.69 56,040 69.24 79,928 42.63 1.2

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 5,281,782 6,096,482 15.42 6,156,000 0.98 6,127,000 -0.47 6,731,000 9.86 6.3

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 2.6 41.6 45.5 43.3 41.4
P.B.I.T. Margin 2.6 41.6 45.5 43.3 41.4
Pre-tax Margin 2.6 41.6 45.5 43.3 41.4

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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