Pay and Specialty - Family Channel (formerly Family)

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
314600859 Family Channel (formerly Family) DHX Television Ltd. DHX Media Ltd. Pay-TV (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 46,947,540 47,452,922 1.08 47,932,574 1.01 46,170,270 -3.68 43,561,376 -5.65 -1.9
DTH revenue 15,038,471 14,290,462 -4.97 14,029,991 -1.82 15,197,925 8.32 16,125,135 6.10 1.8
Local advertising revenue 0 0 0 0 0
National advertising revenue 0 0 0 0 0
Other revenue 1,293,980 2,854,917 120.63 5,051,494 76.94 9,652,066 91.07 12,002,456 24.35 74.5
Total Revenue 63,279,991 64,598,301 2.08 67,014,059 3.74 71,020,261 5.98 71,688,967 0.94 3.2

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 24,593,721 26,063,669 5.98 27,885,125 6.99 27,262,531 -2.23 27,306,101 0.16 2.7
Technical 1,227,477 1,073,370 -12.55 1,184,063 10.31 1,506,095 27.20 1,492,516 -0.90 5.0
Sales and Promotion 13,089,849 12,504,865 -4.47 13,921,315 11.33 14,800,617 6.32 15,274,560 3.20 3.9
Administration and General 3,934,461 3,832,711 -2.59 3,839,543 0.18 3,033,625 -20.99 2,889,194 -4.76 -7.4
Total Expenses 42,845,508 43,474,615 1.47 46,830,046 7.72 46,602,868 -0.49 46,962,371 0.77 2.3

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 20,434,483 21,123,686 20,184,013 24,417,393 24,726,596
Depreciation 164,689 280,334 70.22 279,274 -0.38 220,302 -21.12 320,711 45.58 18.1
P.B.I.T. 20,269,794 20,843,352 19,904,739 24,197,091 24,405,885
Interest Expense 4,720,460 4,691,500 -0.61 3,894,930 -16.98 0 -100.00 858,473
Adjustments - Gain (Loss) 16,248,683 15,638,451 -3.76 12,957,566 -17.14 0 -100.00 -16,076,922
Pre-tax Profit 31,798,017 31,790,303 28,967,375 24,197,091 7,470,490

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 7,467,655 8,367,967 12.06 8,962,558 7.11 8,860,415 -1.14 8,928,530 0.77 4.6
Script & concept 948,534 812,755 -14.31 1,033,139 27.12 352,623 -65.87 127,487 -63.85 -39.5
Filler Programming + Program Production 1,348,701 1,567,622 16.23 1,502,206 -4.17 2,112,862 40.65 1,852,089 -12.34 8.3
Investment in Programming 437,200 412,480 -5.65 91,284 -77.87 3,321 -96.36 0 -100.00 -100.0
Total Canadian Programming 10,202,090 11,160,824 9.40 11,589,187 3.84 11,329,221 -2.24 10,908,106 -3.72 1.7
Canadian Programming/Revenue (%) 16.12 17.28 17.29 15.95 15.22

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 3,675,787 5,065,565 37.81 4,737,204 -6.48 5,626,406 18.77 6,147,185 9.26 13.7
Average Staff Count 48 44 -8.33 66 50.00 66 0.00 65 -1.52
Avg Remuneration ($) 76,579 115,126 50.34 71,776 -37.65 85,249 18.77 94,572 10.94 5.4

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 5,936,794 5,753,571 -3.09 5,726,126 -0.48 5,467,587 -4.52 5,152,095 -5.77 -3.5

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 32.3 32.7 30.1 34.4 34.5
P.B.I.T. Margin 32.0 32.3 29.7 34.1 34.0
Pre-tax Margin 50.2 49.2 43.2 34.1 10.4

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

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