Pay and Specialty - TELETOON/TÉLÉTOON

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
305417231 TELETOON/TÉLÉTOON TELETOON Canada Inc. Corus Entertainment Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 31,163,605 28,612,303 -8.19 28,133,309 -1.67 29,595,699 5.20 26,067,622 -11.92 -4.4
DTH revenue 10,318,881 10,909,687 5.73 10,695,400 -1.96 7,669,623 -28.29 9,425,277 22.89 -2.2
Local advertising revenue 0 0 0 0 0
National advertising revenue 47,818,400 44,433,609 -7.08 45,540,983 2.49 42,007,091 -7.76 33,960,298 -19.16 -8.2
Other revenue 0 0 0 59,836 0 -100.00
Total Revenue 89,300,886 83,955,599 -5.99 84,369,692 0.49 79,332,249 -5.97 69,453,197 -12.45 -6.1

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 37,174,985 39,123,540 5.24 36,139,370 -7.63 47,247,136 30.74 43,106,268 -8.76 3.8
Technical 1,200,110 1,436,072 19.66 1,715,094 19.43 1,721,411 0.37 869,873 -49.47 -7.7
Sales and Promotion 3,905,314 3,657,872 -6.34 3,489,929 -4.59 3,763,869 7.85 1,533,776 -59.25 -20.8
Administration and General 5,142,101 4,682,576 -8.94 4,575,088 -2.30 6,935,144 51.58 2,993,951 -56.83 -12.7
Total Expenses 47,422,510 48,900,060 3.12 45,919,481 -6.10 59,667,560 29.94 48,503,868 -18.71 0.6

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 41,878,376 35,055,539 38,450,211 19,664,689 20,949,329
Depreciation 165,785 180,658 8.97 159,732 -11.58 35,931 -77.51 0 -100.00 -100.0
P.B.I.T. 41,712,591 34,874,881 38,290,479 19,628,758 20,949,329
Interest Expense 284,929 49,211 -82.73 1,654,008 >999± 1,363,915 -17.54 668,599 -50.98
Adjustments - Gain (Loss) 217,392 46,709 -78.51 362,511 676.11 -1,082,177 -398.52 -70,433 -93.49
Pre-tax Profit 41,645,054 34,872,379 36,998,982 17,182,666 20,210,297

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 20,580,899 22,631,034 9.96 21,183,330 -6.40 30,752,673 45.17 13,173,811 -57.16 -10.6
Script & concept 541,589 277,640 -48.74 309,116 11.34 966,396 212.63 1,620,429 67.68 31.5
Filler Programming + Program Production 2,032,886 1,761,929 -13.33 1,937,487 9.96 2,326,870 20.10 2,192,391 -5.78 1.9
Investment in Programming 111,843 99,692 -10.86 86,960 -12.77 424,517 388.18 7,002,329 >999± 181.3
Total Canadian Programming 23,267,217 24,770,295 6.46 23,516,893 -5.06 34,470,456 46.58 23,988,960 -30.41 0.8
Canadian Programming/Revenue (%) 26.05 29.50 27.87 43.45 34.54

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 7,170,241 6,408,114 -10.63 7,376,052 15.10 1,516,145 -79.45 1,903,187 25.53 -28.2
Average Staff Count 81 88 8.64 88 0.00 18 -79.55 91 405.56
Avg Remuneration ($) 88,521 72,819 -17.74 83,819 15.10 84,230 0.49 20,914 -75.17 -30.3

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 7,726,261 7,461,740 -3.42 7,271,415 -2.55 8,689,483 19.50 8,340,529 -4.02 1.9

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 46.9 41.8 45.6 24.8 30.2
P.B.I.T. Margin 46.7 41.5 45.4 24.7 30.2
Pre-tax Margin 46.6 41.5 43.9 21.7 29.1

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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