Pay and Specialty - ESPN Classic

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
305424608 ESPN Classic The Sports Network Inc. BCE Inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 1,379,319 1,479,548 7.27 1,476,268 -0.22 1,544,927 4.65 1,424,336 -7.81 0.8
DTH revenue 1,248,115 1,282,688 2.77 1,222,719 -4.68 1,282,243 4.87 614,475 -52.08 -16.2
Local advertising revenue 0 0 0 0 0
National advertising revenue 286,654 270,218 -5.73 219,895 -18.62 208,014 -5.40 92,014 -55.77 -24.7
Other revenue 0 0 0 0 0
Total Revenue 2,914,088 3,032,454 4.06 2,918,882 -3.75 3,035,184 3.98 2,130,825 -29.80 -7.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 433,293 593,983 37.09 651,918 9.75 416,733 -36.08 296,565 -28.84 -9.0
Technical 940,036 747,770 -20.45 699,340 -6.48 701,304 0.28 642,665 -8.36 -9.1
Sales and Promotion 220,720 227,075 2.88 219,226 -3.46 205,222 -6.39 179,638 -12.47 -5.0
Administration and General 615,011 629,150 2.30 639,572 1.66 653,369 2.16 666,456 2.00 2.0
Total Expenses 2,209,060 2,197,978 -0.50 2,210,056 0.55 1,976,628 -10.56 1,785,324 -9.68 -5.2

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 705,028 834,476 708,826 1,058,556 345,501
Depreciation 0 0 0 0 0
P.B.I.T. 705,028 834,476 708,826 1,058,556 345,501
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 705,028 834,476 708,826 1,058,556 345,501

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 33,862 2,615 -92.28 0 -100.00 0 0 -100.0
Script & concept 0 0 0 0 0
Filler Programming + Program Production 171,794 377,722 119.87 441,443 16.87 412,550 -6.55 291,618 -29.31 14.1
Investment in Programming 0 0 0 0 0
Total Canadian Programming 205,656 380,337 84.94 441,443 16.07 412,550 -6.55 291,618 -29.31 9.1
Canadian Programming/Revenue (%) 7.06 12.54 15.12 13.59 13.69

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 143,118 142,118 -0.70 134,496 -5.36 152,047 13.05 51,373 -66.21 -22.6
Average Staff Count 2 2 0.00 2 0.00 2 0.00 1 -50.00
Avg Remuneration ($) 71,559 71,059 -0.70 67,248 -5.36 76,024 13.05 51,373 -32.42 -8.0

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 1,092,322 1,127,561 3.23 1,028,723 -8.77 955,903 -7.08 556,649 -41.77 -15.5

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 24.2 27.5 24.3 34.9 16.2
P.B.I.T. Margin 24.2 27.5 24.3 34.9 16.2
Pre-tax Margin 24.2 27.5 24.3 34.9 16.2

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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