Pay and Specialty - BBC 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
305424319 BBC Canada Jasper Broadcasting Inc. Shaw Communications Inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 2,977,524 4,302,447 44.50 4,707,048 9.40 4,944,739 5.05 5,323,862 7.67 15.6
DTH revenue 3,131,379 2,997,095 -4.29 2,813,036 -6.14 2,704,455 -3.86 2,605,483 -3.66 -4.5
Local advertising revenue 0 0 0 0 0
National advertising revenue 2,915,303 3,143,498 7.83 3,145,808 0.07 3,166,880 0.67 2,711,608 -14.38 -1.8
Other revenue 0 0 0 0 0
Total Revenue 9,024,206 10,443,040 15.72 10,665,892 2.13 10,816,074 1.41 10,640,953 -1.62 4.2

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 3,457,551 2,146,329 -37.92 2,593,566 20.84 2,690,605 3.74 2,519,092 -6.37 -7.6
Technical 674,941 654,261 -3.06 657,877 0.55 496,750 -24.49 556,876 12.10 -4.7
Sales and Promotion 219,787 353,159 60.68 228,653 -35.25 78,451 -65.69 115,424 47.13 -14.9
Administration and General 1,248,413 1,054,195 -15.56 1,107,738 5.08 1,240,319 11.97 1,374,319 10.80 2.4
Total Expenses 5,600,692 4,207,944 -24.87 4,587,834 9.03 4,506,125 -1.78 4,565,711 1.32 -5.0

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 3,423,514 6,235,096 6,078,058 6,309,949 6,075,242
Depreciation 0 0 0 0 0
P.B.I.T. 3,423,514 6,235,096 6,078,058 6,309,949 6,075,242
Interest Expense 1,845,138 1,548,800 -16.06 1,195,143 -22.83 776,274 -35.05 416,887 -46.30
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 1,578,376 4,686,296 4,882,915 5,533,675 5,658,355

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 133,551 156,251 17.00 133,097 -14.82 123,546 -7.18 37,978 -69.26 -27.0
Script & concept 0 0 0 0 0
Filler Programming + Program Production 535,047 341,272 -36.22 303,164 -11.17 406,224 33.99 395,992 -2.52 -7.3
Investment in Programming 0 0 0 0 0
Total Canadian Programming 668,598 497,523 -25.59 436,261 -12.31 529,770 21.43 433,970 -18.08 -10.2
Canadian Programming/Revenue (%) 7.41 4.76 4.09 4.90 4.08

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 791,231 906,794 14.61 1,039,431 14.63 1,082,557 4.15 1,145,716 5.83 9.7
Average Staff Count 10 11 10.00 12 9.09 12 0.00 12 0.00
Avg Remuneration ($) 79,123 82,436 4.19 86,619 5.07 90,213 4.15 95,476 5.83 4.8

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 2,629,465 2,726,348 3.68 2,727,819 0.05 2,681,246 -1.71 2,656,825 -0.91 0.3

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 37.9 59.7 57.0 58.3 57.1
P.B.I.T. Margin 37.9 59.7 57.0 58.3 57.1
Pre-tax Margin 17.5 44.9 45.8 51.2 53.2

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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