Sportsnet (formerly Rogers Sportsnet)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305417265 Sportsnet (formerly Rogers Sportsnet) Rogers Sportsnet Inc. Rogers Communications Inc. Specialty (category C service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 104,035,101 106,188,965 2.07 114,972,958 8.27 132,904,153 15.60 157,646,209 18.62 11.0
DTH revenue 29,378,850 32,673,052 11.21 36,898,017 12.93 43,622,659 18.22 65,603,921 50.39 22.2
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 59,071,259 67,460,875 14.20 68,675,857 1.80 68,856,950 0.26 72,037,741 4.62 5.1
Other revenue 24,435,725 11,486,717 -52.99 13,419,383 16.83 8,033,218 -40.14 16,651,031 107.28
Total Revenue 216,920,935 217,809,609 0.41 233,966,215 7.42 253,416,980 8.31 311,938,902 23.09 9.5

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 139,144,536 150,577,090 8.22 176,751,251 17.38 165,137,931 -6.57 228,105,454 38.13 13.2
Technical 4,331,211 4,803,252 10.90 4,911,376 2.25 5,108,118 4.01 5,370,126 5.13 5.5
Sales and Promotion 8,372,564 10,774,825 28.69 8,614,885 -20.05 7,605,862 -11.71 9,910,712 30.30 4.3
Administration and General 9,713,210 11,741,941 20.89 10,993,938 -6.37 16,724,169 52.12 19,992,168 19.54 19.8
Total Expenses 161,561,521 177,897,108 10.11 201,271,450 13.14 194,576,080 -3.33 263,378,460 35.36 13.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 55,359,414 39,912,501 32,694,765 58,840,900 48,560,442
Depreciation 8,540,546 8,626,443 1.01 8,859,238 2.70 8,805,946 -0.60 4,363,516 -50.45 -15.5
P.B.I.T. 46,818,868 31,286,058 23,835,527 50,034,954 44,196,926
Interest Expense 0 1,480,712 n/a 1,859,326 25.57 620,782 -66.61 501,274 -19.25
Adjustments - Gain (Loss) 292,144 1,539,300 426.90 -425,966 -127.67 7,357,459 >999± 0 -100.00
Pre-tax Profit 47,111,012 31,344,646 21,550,235 56,771,631 43,695,652

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 86,557,052 98,110,483 13.35 108,295,220 10.38 83,880,295 -22.54 135,909,541 62.03 11.9
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 42,357,006 41,971,710 -0.91 56,572,613 34.79 59,678,223 5.49 64,866,571 8.69 11.2
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 128,914,058 140,082,193 8.66 164,867,833 17.69 143,558,518 -12.93 200,776,112 39.86 11.7
Canadian Programming/Revenue (%) 59.43 64.31 70.47 56.65 64.36

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 26,527,000 25,017,560 -5.69 32,730,012 30.83 26,632,144 -18.63 30,438,748 14.29 3.5
Total Staff Count 303 286 -5.61 353 23.43 405 14.73 446.17 10.17
Avg Remuneration 87,548 87,474 -0.08 92,720 6.00 65,758 -29.08 68,222 3.75 -6.0

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 9,130,054 8,957,170 -1.89 8,784,719 -1.93 8,497,000 -3.28 8,290,000 -2.44 -2.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 25.5 18.3 14.0 23.2 15.6
P.B.I.T. Margin 21.6 14.4 10.2 19.7 14.2
Pre-tax Margin 21.7 14.4 9.2 22.4 14.0
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