Pay and Specialty - Sportsnet World (formerly Setanta Sports (Canada))

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
535426052 Sportsnet World (formerly Setanta Sports (Canada)) Rogers Media Inc. Rogers Communications Inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 9,248,082 9,820,475 6.19 11,716,180 19.30 11,520,798 -1.67 11,167,418 -3.07 4.8
DTH revenue 0 0 0 0 0
Local advertising revenue 0 0 0 0 0
National advertising revenue 205,130 70,750 -65.51 267,974 278.76 5,358 -98.00 0 -100.00 -100.0
Other revenue 0 0 0 0 0
Total Revenue 9,453,212 9,891,225 4.63 11,984,154 21.16 11,526,156 -3.82 11,167,418 -3.11 4.3

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 5,937,537 6,688,831 12.65 8,066,523 20.60 7,606,153 -5.71 10,099,000 32.77 14.2
Technical 764,654 0 -100.00 258,920 398,380 53.86 404,943 1.65 -14.7
Sales and Promotion 274,617 108,350 -60.55 58,048 -46.43 19,189 -66.94 0 -100.00 -100.0
Administration and General 728,163 677,305 -6.98 305,314 -54.92 330,077 8.11 328,213 -0.56 -18.1
Total Expenses 7,704,971 7,474,486 -2.99 8,688,805 16.25 8,353,799 -3.86 10,832,156 29.67 8.9

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,748,241 2,416,739 3,295,349 3,172,357 335,262
Depreciation 0 0 0 0 0
P.B.I.T. 1,748,241 2,416,739 3,295,349 3,172,357 335,262
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 161,564 -108 -100.07 0 -100.00 0 0
Pre-tax Profit 1,909,805 2,416,631 3,295,349 3,172,357 335,262

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0 128,807 12,083 -90.62 696,442 >999±
Script & concept 0 0 0 0 0
Filler Programming + Program Production 281,666 359,761 27.73 1,775,815 393.61 1,403,842 -20.95 1,443,776 2.84 50.5
Investment in Programming 0 0 0 0 0
Total Canadian Programming 281,666 359,761 27.73 1,904,622 429.41 1,415,925 -25.66 2,140,218 51.15 66.0
Canadian Programming/Revenue (%) 2.98 3.64 15.89 12.28 19.16

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 359,302 236,386 -34.21 253,210 7.12 197,305 -22.08 261,052 32.31 -7.7
Average Staff Count 3 5 66.67 5 0.00 3 -40.00 3 0.00
Avg Remuneration ($) 119,767 47,277 -60.53 50,642 7.12 65,768 29.87 87,017 32.31 -7.7

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 82,523 91,417 10.78 100,000 9.39 93,000 -7.00 82,000 -11.83 -0.2

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 18.5 24.4 27.5 27.5 3.0
P.B.I.T. Margin 18.5 24.4 27.5 27.5 3.0
Pre-tax Margin 20.2 24.4 27.5 27.5 3.0

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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