CONTENT ASSETS, NET

12 Months Ended

Dec. 31, 2024

CONTENT ASSETS [Abstract]

CONTENT ASSETS, NET

8. CONTENT ASSETS, NET

The net cost of content assets is as follows:

	As of December 31,
	2024		2023
	(in thousands)
Licensed Content, net
Acquired	$	25,389	$	16,405
Produced Content, net
Completed	86,367		84,065
In production	11,798		11,487
In development and pre-production	175		239
Content assets, net	123,729		112,196
Less: current portion	(36,861)		(29,748)
Noncurrent portion	$	86,868	$	82,448

Amortization of content assets is recorded in the consolidated statements of operations as programming and technical expenses. Content amortization for the years ended December 31, 2024 and 2023 is as follows:

	Years Ended December 31,
	2024		2023
	(in thousands)
Content amortization - acquired	$	14,376	$	17,540
Content amortization - produced	31,921		32,558
Total content amortization	$	46,297	$	50,098

Future estimated content amortization expense as of December 31, 2024, for years 2025 through 2027 is as follows:

	Produced		Acquired		Total
	(in thousands)
2025	$	23,135	$	13,726	$	36,861
2026	19,538		9,124		28,662
2027	17,126		2,386		19,513

Future estimated content amortization expense is not included for in-production or in-development content assets in the table above.

Future minimum content payments required under agreements entered into as of December 31, 2024, are as follows:

	(in thousands)
2025	$	14,233
2026	4,735
2027	1,285