Pay and Specialty - ACTION (formerly Showcase Action)

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
305424997 ACTION (formerly Showcase Action) Showcase Television 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 4,304,985 6,370,581 47.98 7,177,091 12.66 7,708,867 7.41 8,036,696 4.25 16.9
DTH revenue 4,099,636 3,458,758 -15.63 3,863,649 11.71 4,352,452 12.65 4,255,325 -2.23 0.9
Local advertising revenue 0 0 0 0 0
National advertising revenue 8,306,057 9,224,075 11.05 9,643,848 4.55 10,302,216 6.83 8,243,353 -19.98 -0.2
Other revenue 0 0 0 0 0
Total Revenue 16,710,678 19,053,414 14.02 20,684,588 8.56 22,363,535 8.12 20,535,374 -8.17 5.3

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 4,031,098 4,089,758 1.46 5,113,850 25.04 5,596,152 9.43 5,550,101 -0.82 8.3
Technical 676,435 667,518 -1.32 652,392 -2.27 646,549 -0.90 653,280 1.04 -0.9
Sales and Promotion 339,651 665,873 96.05 453,373 -31.91 271,372 -40.14 223,176 -17.76 -10.0
Administration and General 1,083,908 909,693 -16.07 988,632 8.68 1,563,880 58.19 1,554,149 -0.62 9.4
Total Expenses 6,131,092 6,332,842 3.29 7,208,247 13.82 8,077,953 12.07 7,980,706 -1.20 6.8

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 10,579,586 12,720,572   13,476,341   14,285,582   12,554,668    
Depreciation 0 1,827 0 -100.00 0 0
P.B.I.T. 10,579,586 12,718,745 13,476,341 14,285,582 12,554,668
Interest Expense 363,842 10,134 -97.21 8,295 -18.15 2,057 -75.20 0 -100.00
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 10,215,744 12,708,611 13,468,046 14,283,525 12,554,668

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 232,235 488,761 110.46 482,694 -1.24 490,697 1.66 454,557 -7.37 18.3
Script & concept 0 0 0 0 0
Filler Programming + Program Production 321,214 359,390 11.88 338,799 -5.73 439,428 29.70 397,463 -9.55 5.5
Investment in Programming 0 0 0 0 0
Total Canadian Programming 553,449 848,151 53.25 821,493 -3.14 930,125 13.22 852,020 -8.40 11.4
Canadian Programming/Revenue (%) 3.31 4.45 3.97 4.16 4.15

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 742,735 986,546 32.83 938,486 -4.87 1,396,908 48.85 1,231,281 -11.86 13.5
Average Staff Count 10 12 20.00 11 -8.33 15 36.36 13 -13.33
Avg Remuneration ($) 74,274 82,212 10.69 85,317 3.78 93,127 9.15 94,714 1.70 6.3

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 4,479,329 4,563,675 1.88 4,581,044 0.38 4,493,460 -1.91 4,333,013 -3.57 -0.8

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 63.3 66.8   65.2   63.9   61.1    
P.B.I.T. Margin 63.3 66.8 65.2 63.9 61.1
Pre-tax Margin 61.1 66.7 65.1 63.9 61.1

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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