Pay and Specialty - Business News Network (BNN) (previously ROBTV)

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
305417273 Business News Network (BNN) (previously ROBTV) 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 15,169,075 16,661,282 9.84 17,183,494 3.13 18,417,079 7.18 17,662,472 -4.10 3.9
DTH revenue 6,536,720 6,554,553 0.27 6,664,079 1.67 6,545,970 -1.77 6,305,568 -3.67 -0.9
Local advertising revenue 0 0 0 0 0
National advertising revenue 10,124,082 8,715,548 -13.91 7,900,441 -9.35 6,808,790 -13.82 5,567,665 -18.23 -13.9
Other revenue 3,482 28,677 723.58 85,348 197.62 79,534 -6.81 149,527 88.00 156.0
Total Revenue 31,833,359 31,960,060 0.40 31,833,362 -0.40 31,851,373 0.06 29,685,232 -6.80 -1.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 15,242,251 13,140,705 -13.79 13,125,202 -0.12 15,176,177 15.63 14,079,069 -7.23 -2.0
Technical 419,443 1,059,541 152.61 1,015,320 -4.17 994,769 -2.02 841,126 -15.45 19.0
Sales and Promotion 1,302,852 1,123,761 -13.75 817,649 -27.24 502,852 -38.50 553,819 10.14 -19.3
Administration and General 2,286,271 1,965,839 -14.02 2,000,616 1.77 2,082,619 4.10 2,241,916 7.65 -0.5
Total Expenses 19,250,817 17,289,846 -10.19 16,958,787 -1.91 18,756,417 10.60 17,715,930 -5.55 -2.1

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 12,582,542 14,670,214 14,874,575 13,094,956 11,969,302
Depreciation 917,692 1,092,885 19.09 865,833 -20.78 859,168 -0.77 814,786 -5.17 -2.9
P.B.I.T. 11,664,850 13,577,329 14,008,742 12,235,788 11,154,516
Interest Expense 0 0 12 10,314 >999± 9,607 -6.85
Adjustments - Gain (Loss) 18,411 0 -100.00 0 0 -45,285
Pre-tax Profit 11,683,261 13,577,329 14,008,730 12,225,474 11,099,624

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0 0 0 0
Script & concept 0 0 0 0 0
Filler Programming + Program Production 15,105,251 13,088,258 -13.35 12,915,452 -1.32 14,969,217 15.90 13,926,592 -6.97 -2.0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 15,105,251 13,088,258 -13.35 12,915,452 -1.32 14,969,217 15.90 13,926,592 -6.97 -2.0
Canadian Programming/Revenue (%) 47.45 40.95 40.57 47.00 46.91

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 7,970,025 7,005,326 -12.10 6,631,082 -5.34 7,652,238 15.40 5,604,217 -26.76 -8.4
Average Staff Count 94 84 -10.64 77 -8.33 84 9.09 61 -27.38
Avg Remuneration ($) 84,788 83,397 -1.64 86,118 3.26 91,098 5.78 91,872 0.85 2.0

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 6,290,699 6,454,946 2.61 6,358,008 -1.50 6,205,366 -2.40 5,996,824 -3.36 -1.2

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 39.5 45.9 46.7 41.1 40.3
P.B.I.T. Margin 36.6 42.5 44.0 38.4 37.6
Pre-tax Margin 36.7 42.5 44.0 38.4 37.4

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

Date modified: