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ARCHIVED - Broadcasting Notice of Consultation CRTC 2013-209-1

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Additional reference: 2013-209

Ottawa, 30 May 2013

Call for comments on the Saskatoon radio market’s ability to support additional radio stations, and on whether the Commission should issue a call for applications for new radio stations to serve that market

Financial information relating to the Saskatoon radio market

1. On 1 May 2013, the Commission issued Broadcasting Notice of Consultation 2013-209, in which it called for comments on the Saskatoon radio market’s ability to support additional radio stations, and on whether the Commission should issue a call for applications for new radio stations to serve the market.

2. Since the issuance of that notice of consultation, the Commission has received a request for information relating to the financial performance of the Saskatoon radio market. The Commission is of the view that the aggregated financial information can be made public without breaching any confidentiality rules. Further, the Commission considers that this information would be useful to potential commenting parties in determining the Saskatoon radio market’s ability to support additional radio stations.

3. In light of the above, the Commission has provided, in the appendix to the present notice of consultation, a table setting out the aggregated financial information relating to the financial performance of the Saskatoon radio market for the 2008 through 2012 fiscal years.

4. The Commission has also extended the deadline for submission of comments that address the issues and questions set out in Broadcasting Notice of Consultation 2013-209. It will now accept interventions that it receives on or before 14 June 2013. Only parties that file interventions may file a reply to matters raised during the intervention phase. The deadline for the filing of replies is now 24 June 2013.

Secretary General

Appendix to Broadcasting Notice of Consultation CRTC 2013-209-1

Aggregated financial information relating to the Saskatoon radio market (2008-2012 fiscal years)

CRTC – FINANCIAL SUMMARY – RADIO: Saskatoon

($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Reporting Units 8 8 8 8 8

Revenue
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Local Time Sales 19,071,848 20,842,784 9.29 22,176,340 6.40 23,457,258 5.78 24,765,764 5.58 6.8
National Time Sales 4,838,382 4,404,126 -8.98 4,940,935 12.19 4,759,485 -3.67 5,547,163 16.55 3.5
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 0 0 n/a 121 n/a 23,677 >999± 8,210 -65.32 n/a
Government/Corporate Grants 0 0 n/a 0 n/a n/a
Other Revenue 678,189 643,287 -5.15 612,134 -4.84 618,072 0.97 493,832 -20.10
Total Revenue 24,588,419 25,890,197 5.29 27,729,530 7.10 28,858,492 4.07 30,814,969 6.78 5.8

Expenses
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Program 9,073,955 9,591,634 5.71 10,632,090 10.85 11,095,252 4.36 11,524,886 3.87 6.2
Technical 785,118 894,010 13.87 849,199 -5.01 922,460 8.63 1,015,674 10.10 6.7
Sales and Promotion 7,790,505 8,299,572 6.53 8,549,751 3.01 8,981,013 5.04 9,451,535 5.24 5.0
Administration and General 4,803,114 4,966,781 3.41 4,859,263 -2.16 4,647,057 -4.37 4,923,555 5.95 0.6
Total Expenses 22,452,692 23,751,997 5.79 24,890,303 4.79 25,645,782 3.04 26,915,650 4.95 4.6

Performance
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Operating Income 2,135,727 2,138,200 2,839,227 3,212,710 3,899,319
Depreciation 1,223,213 1,218,718 -0.37 1,164,610 -4.44 1,231,345 5.73 1,139,706 -7.44 -1.8
Profit before interest and taxes (P.B.I.T.) 912,514 919,482 1,674,617  1,981,365 2,759,613
Interest Expense 160,325 77,227 -51.83 69,294 -10.27 88,573 27.82 69,171 -21.91
Adjustments Gain (Loss) 189,821 223,223 17.60 -98,242 -144.01 -41,821 -57.43 375 -100.90
Pre-tax Profit 942,010 1,065,478 1,507,081 1,850,971 2,690,817

Programming (%)
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Program Expense/Expense Total 40.4 40.4 42.7 43.3 42.8
Program Expense/Revenue Total 36.9 37.0 38.3 38.4 37.4

Staff
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Total Salaries 12,301,277 12,919,503 5.03 12,959,226 0.31 13,706,011 5.76 14,091,704 2.81 3.5
Average Staff Count 179.0 191.3 6.89 188.5 -1.47 212.8 12.86 179.7 -15.55
Average Salary ($) 68,722 67,525 -1.74 68,746 1.81 64,423 -6.29 78,435 21.75 3.4
Salaries/Expense Total (%) 54.8 54.4 52.1 53.4 52.4

Profitability (%)
($) Fiscal Year 2008 2009 Var % 2010 Var % 2011 Var % 2012 Var % CAGR (%)
Profitability (%)
Operating Margin 8.7 8.3 10.2 11.1 12.7
P.B.I.T. Margin 3.7 3.6 6.0 6.9 9.0
Pre-tax Margin 3.8 4.1 5.4 6.4 8.7

CAGR = Compound Annual Growth Rate

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