Pay and Specialty - Talentvision

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
515408441 Talentvision Fairchild Television Ltd. Fairchild Property Group Ltd. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 2,856,415 3,491,562 22.24 3,482,387 -0.26 3,510,525 0.81 3,142,416 -10.49 2.4
DTH revenue 584,866 598,687 2.36 547,057 -8.62 445,172 -18.62 359,166 -19.32 -11.5
Local advertising revenue 2,426,759 2,585,938 6.56 2,324,361 -10.12 2,163,068 -6.94 1,804,915 -16.56 -7.1
National advertising revenue 1,318,497 1,388,228 5.29 1,069,599 -22.95 846,104 -20.90 909,193 7.46 -8.9
Other revenue 57,833 111,505 92.81 171,425 53.74 177,990 3.83 167,359 -5.97 30.4
Total Revenue 7,244,370 8,175,920 12.86 7,594,829 -7.11 7,142,859 -5.95 6,383,049 -10.64 -3.1

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 3,758,014 3,626,788 -3.49 3,622,244 -0.13 4,259,690 17.60 3,736,741 -12.28 -0.1
Technical 837,360 1,235,228 47.51 1,020,897 -17.35 398,002 -61.01 204,487 -48.62 -29.7
Sales and Promotion 639,967 688,104 7.52 680,595 -1.09 701,625 3.09 636,188 -9.33 -0.2
Administration and General 553,835 885,021 59.80 763,793 -13.70 761,967 -0.24 697,265 -8.49 5.9
Total Expenses 5,789,176 6,435,141 11.16 6,087,529 -5.40 6,121,284 0.55 5,274,681 -13.83 -2.3

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,455,194 1,740,779 1,507,300 1,021,575 1,108,368
Depreciation 275,955 189,804 -31.22 254,238 33.95 306,883 20.71 306,877 0.00 2.7
P.B.I.T. 1,179,239 1,550,975 1,253,062 714,692 801,491
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 1,179,239 1,550,975 1,253,062 714,692 801,491

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 292,248 324,479 11.03 279,676 -13.81 282,961 1.17 281,249 -0.61 -1.0
Script & concept 0 0 0 0 0
Filler Programming + Program Production 1,883,058 1,613,058 -14.34 1,652,042 2.42 1,998,101 20.95 1,843,424 -7.74 -0.5
Investment in Programming 0 0 0 0 0
Total Canadian Programming 2,175,306 1,937,537 -10.93 1,931,718 -0.30 2,281,062 18.08 2,124,673 -6.86 -0.6
Canadian Programming/Revenue (%) 30.03 23.70 25.43 31.93 33.29

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 2,117,362 2,271,231 7.27 2,386,419 5.07 2,719,908 13.97 2,568,944 -5.55 5.0
Average Staff Count 67 69 2.99 72 4.35 77 6.94 74 -3.90
Avg Remuneration ($) 31,602 32,916 4.16 33,145 0.69 35,323 6.57 34,715 -1.72 2.4

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 517,613 447,827 -13.48 400,322 -10.61 360,630 -9.92 282,452 -21.68 -14.1

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 20.1 21.3 19.8 14.3 17.4
P.B.I.T. Margin 16.3 19.0 16.5 10.0 12.6
Pre-tax Margin 16.3 19.0 16.5 10.0 12.6

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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