Much (formerly MuchMusic)

Individual Discretionary and On-Demand Services - Statistical and Financial Summaries 2012-2016

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
314600545 Much (formerly MuchMusic) Bell Media Inc. BCE Inc.                                                    Specialty (category A service) 2016
Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 9,643,912 10,001,784 3.71 14,497,378 44.95 11,669,619 -19.51 11,831,860 1.39 5.2
DTH subscriber revenue 4,171,984 4,052,269 -2.87 3,795,013 -6.35 3,451,266 -9.06 3,112,327 -9.82 -7.1
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 23,548,003 21,451,036 -8.91 17,980,975 -16.18 19,205,354 6.81 16,073,337 -16.31 -9.1
Other revenue 2,856,347 2,168,910 -24.07 1,089,649 -49.76 581,007 -46.68 2,065,553 255.51 -7.8
Total Revenue 40,220,246 37,673,999 -6.33 37,363,015 -0.83 34,907,246 -6.57 33,083,077 -5.23 -4.8
Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 27,754,547 29,040,186 4.63 27,859,983 -4.06 22,194,000 -20.34 20,882,145 -5.91 -6.9
Technical 1,173,149 1,096,991 -6.49 1,077,755 -1.75 891,290 -17.30 763,431 -14.35 -10.2
Sales and Promotion 3,813,391 4,716,677 23.69 3,327,644 -29.45 2,374,811 -28.63 3,212,583 35.28 -4.2
Administration and General 4,089,845 4,315,919 5.53 4,989,369 15.60 4,641,865 -6.96 2,689,583 -42.06 -10.0
Total Expenses 36,830,932 39,169,773 6.35 37,254,751 -4.89 30,101,966 -19.20 27,547,742 -8.49 -7.0
Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 3,389,314 -1,495,774 - 108,264 - 4,805,280 - 5,535,335 - -
Depreciation 1,610,344 746,434 -53.65 751,584 0.69 771,030 2.59 730,951 -5.20 -17.9
P.B.I.T. 1,778,970 -2,242,208 - -643,320 - 4,034,250 - 4,804,384 - -
Interest Expense 152 707 365.13 -6,294 -990.24 -5,633 -10.50 41 -100.73 -
Adjustments - Gain (Loss) -2,254,658 -1,594,812 -29.27 -2,274,230 42.60 -298,651 -86.87 -25,483,383 >999± -
Pre-tax Profit -475,840 -3,837,727 - -2,911,256 - 3,741,232 - -20,679,040 - -
Canadian Programming Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Acquisition of rights 849,455 1,556,806 83.27 211,467 -86.42 39,381 -81.38 55,344 40.53 -49.5
Script & concept 0 0 n/a 0 n/a 101,839 n/a 0 -100.00 n/a
Filler Programming + Program Production 16,531,850 16,320,162 -1.28 15,294,276 -6.29 9,590,307 -37.29 9,353,178 -2.47 -13.3
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 17,381,305 17,876,968 2.85 15,505,743 -13.26 9,731,527 -37.24 9,408,522 -3.32 -14.2
Canadian Programming/Revenue (%) 43.22 47.45 - 41.50 - 27.88 - 28.44 - -
Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 6,261,453 6,608,785 5.55 4,087,723 -38.15 3,803,488 -6.95 3,967,832 4.32 -10.8
Total Staff Count 74 75 1.35 56.73 -24.36 47.43 -16.39 44.82 -5.50 -
Average Remuneration ($) 84,614 88,117 4.14 72,056 -18.23 80,192 11.29 88,528 10.40 1.1
Subscribers
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
9,308,782 9,248,193 -0.65 9,239,706 -0.09 9,048,672 -2.07 8,422,946 -6.92 -2.5
Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 8.4 -4.0 - 0.3 - 13.8 - 16.7 - -
P.B.I.T. Margin 4.4 -6.0 - -1.7 - 11.6 - 14.5 - -
Pre-tax Margin -1.2 -10.2 - -7.8 - 10.7 - -62.5 - -

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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