Oct
20

Score Media Reports Record Revenue and EBITDA in 2011

Industry leading sports app, ScoreMobile, achieves over 3 million monthly unique users in peak months during the fiscal year

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TORONTO, October 20th, 2011 – Score Media Inc. (TSX: SCR) today announced its financial results for the fourth quarter and year ended August 31, 2011:

Revenue for the year ended August 31, 2011 increased by $3.9 million to $47.7 million compared to $43.8 million in the year ended August 31, 2010. Revenue increased across the Company’s TV and digital media platforms.

EBITDA for the year ended August 31, 2011 increased by $1.1 million, to $7.9 million compared to $6.8 million in the prior year (excluding the impact of the $0.8 million CRTC Part II fee reversal in fiscal 2010)

Fourth quarter revenue increased by $1.1 million to $11.6 million compared to $10.5 million in the prior year. Fourth quarter EBITDA was $1.9 million compared to $1.4 million in the prior year.

“2011 was a great year for Score Media” says John Levy, Chairman & CEO, Score Media Inc. “theScore Television Network had its strongest year ever and our digital platforms have experienced explosive growth with ScoreMobile now ranking as one of the top three sports apps in North America. ”

On September 16^th, 2010, Score Media Ventures acquired 20% of NuLayer Inc. (“NuLayer”), a mobile and web development firm. The deal with NuLayer, creators of theScore iPad Edition, brings increased technology development capabilities to Score Media.

Effective January 2011, Score Media and WWE expanded their partnership with a multi-year agreement. The deal builds on Score Media and WWE’s existing television relationship to include online, mobile and VOD rights. In addition, theScore and WWE are working together to bring new original WWE content to Canadians across all platforms.

On May 12^th, 2011, the Company acquired SportsTap, a US based mobile sports application. The combined monthly audience of ScoreMobile and SportsTap ranks 3rd behind the mobile sports applications of ESPN and Yahoo!, ahead of competitors FOX and CBS according to comScore’s MobiLens™ May 2011 ranking of mobile sports application audiences in the United States.

theScore Fighting Series hosted Mississauga’s first mixed martial arts event on June 10^th, 2011. The card took place at The Hershey Centre and the main event pitted top Canadian prospect Jordan Mein against Dream Welterweight Champion Marius Zaromskis.

On June 30^th, 2011, the Company announced the launch of the Spanish edition of ScoreMobile FC

On July 5^th, 2011, the Company announced the launch of an optimized application for the BlackBerry® PlayBook™ tablet providing sports fans with access to real-time scores, stats, news, live blogs and original video

In Fiscal 2011 the ScoreMobile group of applications achieved over three million monthly unique users and delivered over 170 million page views in peak months

About Score Media Inc.

Score Media is a media company committed to delivering interactive and authentic sports entertainment. Score Media’s primary asset, theScore Television Network (“theScore”), is a national specialty television service providing sports news, information, highlights and live event programming in more than 6.8 million homes across Canada. The Company’s digital media assets include theScore.com and the industry leading mobile sports applications ScoreMobile, ScoreMobile FC and SportsTap which reach over three million unique users per month. Growing from a team of 60 in 1997 to over 280 employees in 2011, Score Media is a revolutionizing interactive media company.

Forward-looking (safe harbour) statement

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

FOURTH QUARTER RESULTS

The following tables reconcile net income to EBITDA:

Three Three

months ended months ended

August 31, 2011 August 31, 2010

Net income (loss) for the period $ (316) $ 1,100

Less:

Future income tax recovery – 1,020

Add back:

Depreciation and amortization 1,711 1,188

Interest expense, net 172 174

Investment loss 17 -

Future income tax expense 354 -

EBITDA $ 1,938 $ 1,442

Year ended Year ended

August 31, August 31,

2011 2010

Net income for the period $ 1,478 $ 2,494

Add back:

Depreciation and amortization 5,025 4,352

Interest expense, net 548 622

Investment loss (gain) 14 (18)

Income tax expense 823 169

EBITDA $ 7,888 $ 7,619

The following selected quarterly financial data of the Corporation relates to the eight quarters ended August 31, 2011.

Quarterly Results	Revenue	EBITDA	Net income (loss)	Income (loss) per share – basic and diluted
	($000′s)	($000’s)	($000’s)	($)
August 31, 2011	11,600	1,938	(316)	0.00
May 31, 2011	13,162	2,235	748	0.01
February 28, 2011	11,052	1,071	207	0.00
November 30, 2010	11,863	2,644	839	0.01
August 31, 2010	10,523	1,442	1,100	0.01
May 31, 2010	11,986	1,916	568	0.01
February 28, 2010	9,958	980	(239)	0.00
November 30, 2009	11,371	3,281	1,065	0.01

The Company’s revenues have historically reflected a seasonality trend, with the third quarter (ending May 31^st) being the strongest, followed by the first quarter (ending November 30^th), the fourth quarter (ending August 31^st), and finally the second quarter (ending February 28^th). This seasonality reflects general trends for sports media advertising, which in turn reflects the schedules (particularly the playoffs) of the major North American sports leagues.

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