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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

The following table presents the changes in our goodwill balance (in thousands): 

 

 

 

 

 

Balance at December 31, 2018

    

$

19,435

Foreign currency impact

 

 

(29)

Balance at September 30, 2019

 

$

19,406

We have two reporting units, Marketplaces and Media. Goodwill related to our Marketplaces reporting unit was $17.1 million as of September 30, 2019. Goodwill related to our Media reporting unit was $2.3 million and was recorded in connection with the acquisition of Well+Good in June 2018. Refer to Note 12 for additional information regarding our acquisition of Well+Good.

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2019

 

 

Gross carrying

 

Accumulated

 

Net carrying

 

 

amount

 

amortization

 

amount

Customer relationships

 

$

4,003

 

$

(2,861)

 

$

1,142

Artist relationships

 

 

12,216

 

 

(11,250)

 

 

966

Media content

 

 

91,489

 

 

(91,319)

 

 

170

Technology

 

 

6,204

 

 

(6,110)

 

 

94

Non-compete agreements

 

 

25

 

 

(25)

 

 

 —

Trade names

 

 

18,238

 

 

(7,302)

 

 

10,936

 

 

$

132,175

 

$

(118,867)

 

$

13,308

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

Gross carrying

 

Accumulated

 

Net carrying

 

 

amount

 

amortization

 

amount

Customer relationships

 

$

4,003

 

$

(2,219)

 

$

1,784

Artist relationships

 

 

12,223

 

 

(11,007)

 

 

1,216

Media content

 

 

91,489

 

 

(91,215)

 

 

274

Technology

 

 

6,204

 

 

(5,682)

 

 

522

Non-compete agreements

 

 

25

 

 

(25)

 

 

 —

Trade names

 

 

16,257

 

 

(6,120)

 

 

10,137

 

 

$

130,201

 

$

(116,268)

 

$

13,933

 

Identifiable finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives commencing on the date that the asset is available for its intended use.

Total amortization expense for the periods shown below includes (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 

 

Nine months ended September 30, 

 

 

    

2019

    

2018

    

2019

    

2018

 

Service costs

 

$

17

 

$

220

 

$

105

 

$

889

 

Sales and marketing

 

 

288

 

 

326

 

 

892

 

 

646

 

Product development

 

 

104

 

 

184

 

 

428

 

 

769

 

General and administrative

 

 

398

 

 

403

 

 

1,194

 

 

811

 

Total amortization

 

$

807

 

$

1,133

 

$

2,619

 

$

3,115