The Sports Network (TSN)

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

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
314600537 The Sports Network (TSN) The Sports Network Inc. BCE Inc.                                                    Specialty (category C service) 2016
Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 185,770,758 216,353,607 16.46 256,171,363 18.40 250,182,832 -2.34 255,523,307 2.13 8.3
DTH subscriber revenue 55,738,143 62,900,532 12.85 77,279,671 22.86 70,117,773 -9.27 76,296,503 8.81 8.2
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 133,180,289 120,704,444 -9.37 118,645,699 -1.71 122,478,121 3.23 129,095,606 5.40 -0.8
Other revenue 144,521 434,897 200.92 91,151 -79.04 61,582 -32.44 2,861,475 >999± 110.9
Total Revenue 374,833,711 400,393,480 6.82 452,187,884 12.94 442,840,308 -2.07 463,776,891 4.73 5.5
Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 272,170,110 235,182,618 -13.59 282,051,564 19.93 278,488,788 -1.26 306,763,501 10.15 3.0
Technical 930,329 1,218,641 30.99 1,272,285 4.40 2,905,161 128.34 3,115,404 7.24 35.3
Sales and Promotion 16,410,445 15,488,273 -5.62 16,841,223 8.74 16,230,402 -3.63 15,229,344 -6.17 -1.9
Administration and General 15,593,200 19,702,712 26.35 19,068,717 -3.22 20,627,069 8.17 18,713,995 -9.27 4.7
Total Expenses 305,104,084 271,592,244 -10.98 319,233,789 17.54 318,251,420 -0.31 343,822,244 8.03 3.0
Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 69,729,627 128,801,236 - 132,954,095 - 124,588,888 - 119,954,647 - -
Depreciation 7,933,517 5,765,857 -27.32 6,957,721 20.67 8,361,693 20.18 9,652,509 15.44 5.0
P.B.I.T. 61,796,110 123,035,379 - 125,996,374 - 116,227,195 - 110,302,138 - -
Interest Expense 25,253,030 25,213,408 -0.16 25,309,175 0.38 25,511,133 0.80 25,621,721 0.43 -
Adjustments - Gain (Loss) 444,352 4,519,565 917.11 2,795,593 -38.14 9,225,623 230.01 5,918 -99.94 -
Pre-tax Profit 36,987,432 102,341,536 - 103,482,792 - 99,941,685 - 84,686,335 - -
Canadian Programming Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Acquisition of rights 96,815,920 62,648,471 -35.29 103,461,482 65.15 114,292,946 10.47 127,479,434 11.54 7.1
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 89,407,461 86,883,848 -2.82 98,414,292 13.27 108,037,944 9.78 103,105,373 -4.57 3.6
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 186,223,381 149,532,319 -19.70 201,875,774 35.00 222,330,890 10.13 230,584,807 3.71 5.5
Canadian Programming/Revenue (%) 49.68 37.35 - 44.64 - 50.21 - 49.72 - -
Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 22,518,305 23,098,468 2.58 24,534,798 6.22 28,384,076 15.69 27,207,895 -4.14 4.8
Total Staff Count 214 218 1.87 224 2.75 241 7.59 226 -6.22 -
Average Remuneration ($) 105,226 105,956 0.69 109,530 3.37 117,776 7.53 120,389 2.22 3.4
Subscribers
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
9,190,812 9,069,491 -1.32 9,050,153 -0.21 8,798,198 -2.78 8,515,982 -3.21 -1.9
Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 18.6 32.2 - 29.4 - 28.1 - 25.9 - -
P.B.I.T. Margin 16.5 30.7 - 27.9 - 26.2 - 23.8 - -
Pre-tax Margin 9.9 25.6 - 22.9 - 22.6 - 18.3 - -

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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