Pay and Specialty - Book Television (formerly Book Television - The Channel)

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
405423922 Book Television (formerly Book Television - The Channel) Bell Media Inc. BCE Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 1,657,313 1,753,523 5.81 1,805,477 2.96 1,949,236 7.96 1,812,870 -7.00 2.3
DTH revenue 2,532,615 2,700,018 6.61 2,646,220 -1.99 2,628,159 -0.68 2,097,501 -20.19 -4.6
Local advertising revenue 0 0 0 0 0
National advertising revenue 63,132 82,594 30.83 27,512 -66.69 29,525 7.32 37,569 27.24 -12.2
Other revenue 0 0 0 0 0
Total Revenue 4,253,060 4,536,135 6.66 4,479,209 -1.25 4,606,920 2.85 3,947,940 -14.30 -1.8

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 1,834,893 684,588 -62.69 582,312 -14.94 833,538 43.14 568,469 -31.80 -25.4
Technical 517,763 510,227 -1.46 507,227 -0.59 505,482 -0.34 478,430 -5.35 -2.0
Sales and Promotion 53,801 55,479 3.12 23,153 -58.27 5,416 -76.61 4,503 -16.86 -46.2
Administration and General 252,484 227,590 -9.86 215,370 -5.37 222,291 3.21 249,815 12.38 -0.3
Total Expenses 2,658,941 1,477,884 -44.42 1,328,062 -10.14 1,566,727 17.97 1,301,217 -16.95 -16.4

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,594,119 3,058,251 3,151,147 3,040,193 2,646,723
Depreciation 273,528 51,293 -81.25 61,577 20.05 65,683 6.67 62,735 -4.49 -30.8
P.B.I.T. 1,320,591 3,006,958 3,089,570 2,974,510 2,583,988
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) -124,755 -308,557 147.33 -307,853 -0.23 -308,092 0.08 -55,281 -82.06
Pre-tax Profit 1,195,836 2,698,401 2,781,717 2,666,418 2,528,707

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 500,100 200,872 -59.83 285,638 42.20 213,261 -25.34 96,242 -54.87 -33.8
Script & concept 0 0 0 0 0
Filler Programming + Program Production 995,145 184,941 -81.42 0 -100.00 0 0 -100.0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 1,495,245 385,813 -74.20 285,638 -25.96 213,261 -25.34 96,242 -54.87 -49.6
Canadian Programming/Revenue (%) 35.16 8.51 6.38 4.63 2.44

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 126,600 107,966 -14.72 26,872 -75.11 2 -99.99 0 -100.00 -100.0
Average Staff Count 1.33 2 50.38 0.45 -77.50 0 -100.00 0
Avg Remuneration ($) 95,188 53,983 -43.29 59,716 10.62

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 969,000 946,165 -2.36 885,479 -6.41 823,283 -7.02 523,731 -36.39 -14.3

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 37.5 67.4 70.4 66.0 67.0
P.B.I.T. Margin 31.1 66.3 69.0 64.6 65.5
Pre-tax Margin 28.1 59.5 62.1 57.9 64.1

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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