Pay and Specialty - CBC News Network (Formerly Newsworld)

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
334805116 CBC News Network (Formerly Newsworld) Canadian Broadcasting Corporation Canadian Broadcasting Corporation Specialty (category C service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 50,470,964 50,983,039 1.01 50,606,511 -0.74 49,995,158 -1.21 52,021,094 4.05 0.8
DTH revenue 17,141,019 17,644,637 2.94 17,730,568 0.49 18,783,518 5.94 15,032,863 -19.97 -3.2
Local advertising revenue 0 0 0 0 0
National advertising revenue 14,547,453 17,472,969 20.11 18,462,152 5.66 19,538,932 5.83 19,176,930 -1.85 7.2
Other revenue 55,298 57,017 3.11 0 -100.00 1,634,816 1,720,790 5.26 136.2
Total Revenue 82,214,734 86,157,662 4.80 86,799,231 0.74 89,952,424 3.63 87,951,677 -2.22 1.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 65,399,654 62,083,219 -5.07 57,861,322 -6.80 59,879,627 3.49 61,579,011 2.84 -1.5
Technical 2,524,631 2,349,917 -6.92 2,390,084 1.71 2,419,186 1.22 2,637,258 9.01 1.1
Sales and Promotion 3,146,216 2,598,682 -17.40 2,493,464 -4.05 3,621,347 45.23 5,572,059 53.87 15.4
Administration and General 1,176,914 1,543,817 31.18 1,708,143 10.64 7,497,050 338.90 7,371,945 -1.67 58.2
Total Expenses 72,247,415 68,575,635 -5.08 64,453,013 -6.01 73,417,210 13.91 77,160,273 5.10 1.7

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 9,967,319 17,582,027 22,346,218 16,535,214 10,791,404
Depreciation 2,823,222 2,521,273 -10.70 1,975,599 -21.64 2,805,992 42.03 2,952,343 5.22 1.1
P.B.I.T. 7,144,097 15,060,754 20,370,619 13,729,222 7,839,061
Interest Expense 0 0 0 495,026 410,424 -17.09
Adjustments - Gain (Loss) 0 0 0 -2,946,358 -2,948,701 0.08
Pre-tax Profit 7,144,097 15,060,754 20,370,619 10,287,838 4,479,936

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 1,797,193 17,900 -99.00 14,683 -17.97 0 -100.00 328,064 -34.6
Script & concept 0 0 0 0 0
Filler Programming + Program Production 61,951,706 61,333,069 -1.00 57,333,435 -6.52 55,941,863 -2.43 57,513,799 2.81 -1.8
Investment in Programming 15,350 4,601 -70.03 0 -100.00 0 0 -100.0
Total Canadian Programming 63,764,249 61,355,570 -3.78 57,348,118 -6.53 55,941,863 -2.45 57,841,863 3.40 -2.4
Canadian Programming/Revenue (%) 77.56 71.21 66.07 62.19 65.77

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 33,312,217 32,701,718 -1.83 33,142,515 1.35 48,033,626 44.93 47,357,692 -1.41 9.2
Average Staff Count 342 338 -1.17 329.1 -2.63 468 42.21 456.65 -2.43
Avg Remuneration ($) 97,404 96,751 -0.67 100,707 4.09 102,636 1.92 103,707 1.04 1.6

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 11,165,366 11,362,597 1.77 11,336,559 -0.23 11,376,354 0.35 11,173,366 -1.78 0.0

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 12.1 20.4 25.7 18.4 12.3
P.B.I.T. Margin 8.7 17.5 23.5 15.3 8.9
Pre-tax Margin 8.7 17.5 23.5 11.4 5.1

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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