Winnipeg Radio Market

Canadian Radio-television and Telecommunications Commission

Financial Summary - Radio

	2004	2005		2006		2007		2008		CAGR (%)
($) Reporting Units	14	14		14		14		14		5 yr
Revenue			Var %		Var %		Var %		Var %
Local Time Sales	25,199,204	27,470,609	9.01	30,148,782	9.75	30,368,283	0.73	31,061,247	2.28	5.4
National Time Sales	6,666,072	7,570,930	13.57	7,421,897	-1.97	7,470,877	0.66	7,687,764	2.90	3.6
Network Payments								0		n/a
Syndication-Production	235,110	179,532	-23.64	151,408	-15.67	130,364	-13.90	160,757	23.31	-9.1
Other Revenue	359,438	175,325	-51.22	3,134	-98.21	792,876	>999±	750,608	-5.33
Total Revenue	32,459,824	35,396,396	9.05	37,725,221	6.58	38,762,400	2.75	39,660,376	2.32	5.1
Expenses
Program	11,327,738	11,542,012	1.89	11,467,463	-0.65	11,795,468	2.86	11,299,520	-4.20	-0.1
Technical	1,168,449	1,165,237	-0.27	1,047,091	-10.14	1,147,041	9.55	1,170,878	2.08	0.1
Sales and Promotion	9,356,004	10,254,037	9.60	10,698,374	4.33	11,084,859	3.61	10,932,241	-1.38	4.0
Administration and General	6,826,318	6,832,370	0.09	7,530,656	10.22	8,852,137	17.55	7,725,199	-12.73	3.1
Total Expenses	28,678,509	29,793,656	3.89	30,743,584	3.19	32,879,505	6.95	31,127,838	-5.33	2.1
Operating Income	3,781,315	5,602,740		6,981,637		5,882,895		8,532,538
Depreciation	1,497,389	1,547,691	3.36	1,507,965	-2.57	1,421,592	-5.73	833,100	-41.40	-13.6
P.B.I.T.	2,283,926	4,055,049		5,473,672		4,461,303		7,699,438
Interest Expense	256,418	460,681	79.66	322,906	-29.91	456,396	41.34	319,706	-29.95
Adjustments	1,129,438	232,363	-79.43	4,350,067	>999±	3,230,390	-25.74	3,237,782	0.23
Pre-tax Profit	3,156,946	3,826,731		9,500,833		7,235,297		10,617,514
Programming (%)
Prog Expense/ Expense Total	39.5	38.7		37.3		35.9		36.3
Prog Expense/ Revenue Total	34.9	32.6		30.4		30.4		28.5
Staff
Total Salaries	15,493,575	16,572,485	6.96	17,099,944	3.18	17,606,810	2.96	16,569,679	-5.89	1.7
Avg Staff Count	266.80	259.50	-2.74	265.60	2.35	254.62	-4.13	240.02	-5.73
Avg Salary ($)	58,072	63,863	9.97	64,382	0.81	69,149	7.40	69,035	-0.17	4.4
Salaries/Expense Total (%)	54.0	55.6		55.6		53.5		53.2
Profitability (%)
Operating Margin	11.6	15.8		18.5		15.2		21.5
P.B.I.T. Margin	7.0	11.5		14.5		11.5		19.4
Pre-tax Margin	9.7	10.8		25.2		18.7		26.8
CAGR = Compound Annual Growth Rate

2004

2005

2006

2007

2008

CAGR (%)

($) Reporting Units

5 yr

Revenue

Var %

Local Time Sales

25,199,204

27,470,609

9.01

30,148,782

9.75

30,368,283

0.73

31,061,247

2.28

5.4

National Time Sales

6,666,072

7,570,930

13.57

7,421,897

-1.97

7,470,877

0.66

7,687,764

2.90

3.6

Network Payments

n/a

Syndication-Production

235,110

179,532

-23.64

151,408

-15.67

130,364

-13.90

160,757

23.31

-9.1

Other Revenue

359,438

175,325

-51.22

3,134

-98.21

792,876

>999±

750,608

-5.33

Total Revenue

32,459,824

35,396,396

9.05

37,725,221

6.58

38,762,400

2.75

39,660,376

2.32

5.1

Expenses

Program

11,327,738

11,542,012

1.89

11,467,463

-0.65

11,795,468

2.86

11,299,520

-4.20

-0.1

Technical

1,168,449

1,165,237

-0.27

1,047,091

-10.14

1,147,041

9.55

1,170,878

2.08

0.1

Sales and Promotion

9,356,004

10,254,037

9.60

10,698,374

4.33

11,084,859

3.61

10,932,241

-1.38

4.0

Administration and General

6,826,318

6,832,370

0.09

7,530,656

10.22

8,852,137

17.55

7,725,199

-12.73

3.1

Total Expenses

28,678,509

29,793,656

3.89

30,743,584

3.19

32,879,505

6.95

31,127,838

-5.33

2.1

Operating Income

3,781,315

5,602,740

6,981,637

5,882,895

8,532,538

Depreciation

1,497,389

1,547,691

3.36

1,507,965

-2.57

1,421,592

-5.73

833,100

-41.40

-13.6

P.B.I.T.

2,283,926

4,055,049

5,473,672

4,461,303

7,699,438

Interest Expense

256,418

460,681

79.66

322,906

-29.91

456,396

41.34

319,706

-29.95

Adjustments

1,129,438

232,363

-79.43

4,350,067

>999±

3,230,390

-25.74

3,237,782

0.23

Pre-tax Profit

3,156,946

3,826,731

9,500,833

7,235,297

10,617,514

Programming (%)

Prog Expense/
Expense Total

39.5

38.7

37.3

35.9

36.3

Prog Expense/
Revenue Total

34.9

32.6

30.4

28.5

Staff

Total Salaries

15,493,575

16,572,485

6.96

17,099,944

3.18

17,606,810

2.96

16,569,679

-5.89

1.7

Avg Staff Count

266.80

259.50

-2.74

265.60

2.35

254.62

-4.13

240.02

-5.73

Avg Salary ($)

58,072

63,863

9.97

64,382

0.81

69,149

7.40

69,035

-0.17

4.4

Salaries/Expense Total (%)

54.0

55.6

53.5

53.2

Profitability (%)

Operating Margin

11.6

15.8

18.5

15.2

21.5

P.B.I.T. Margin

7.0

11.5

14.5

11.5

19.4

Pre-tax Margin

9.7

10.8

25.2

18.7

26.8

CAGR = Compound Annual Growth Rate

Common menu bar links

Winnipeg Radio Market

Financial Summary - Radio