Pay and Specialty - Bragg Communications Incorporated, Halifax

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
535424840 Bragg Communications Incorporated, Halifax Bragg Communications Incorporated Tidnish Holdings Limited Video-on-Demand 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 5,236,193 6,294,988 20.22 5,854,604 -7.00 5,213,860 -10.94 4,605,536 -11.67 -3.2
DTH revenue 0 0 0 0 0
Local advertising revenue 0 0 0 0 0
National advertising revenue 0 0 0 0 0
Other revenue 0 0 0 0 0
Total Revenue 5,236,193 6,294,988 20.22 5,854,604 -7.00 5,213,860 -10.94 4,605,536 -11.67 -3.2

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 3,600,355 4,557,985 26.60 4,145,491 -9.05 4,514,403 8.90 4,513,216 -0.03 5.8
Technical 0 0 0 0 0
Sales and Promotion 0 0 0 0 0
Administration and General 0 0 0 10,518 9,212 -12.42
Total Expenses 3,600,355 4,557,985 26.60 4,145,491 -9.05 4,524,921 9.15 4,522,428 -0.06 5.9

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,635,838 1,737,003 1,709,113 688,939 83,108
Depreciation 0 0 0 0 0
P.B.I.T. 1,635,838 1,737,003 1,709,113 688,939 83,108
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 1,635,838 1,737,003 1,709,113 688,939 83,108

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 3,600,355 4,557,985 26.60 4,145,491 -9.05 4,514,403 8.90 4,513,216 -0.03 5.8
Script & concept 0 0 0 0 0
Filler Programming + Program Production 0 0 0 0 0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 3,600,355 4,557,985 26.60 4,145,491 -9.05 4,514,403 8.90 4,513,216 -0.03 5.8
Canadian Programming/Revenue (%) 68.76 72.41 70.81 86.58 98.00

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 0 0 0 0 0
Average Staff Count 0 0 0 0 0
Avg Remuneration ($)

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 31.2 27.6 29.2 13.2 1.8
P.B.I.T. Margin 31.2 27.6 29.2 13.2 1.8
Pre-tax Margin 31.2 27.6 29.2 13.2 1.8

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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