Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill.

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, 2019	$	19,465
Foreign currency impact		(57)
Dispositions		(200)
Balance at June 30, 2020	$	19,208

We recorded a goodwill reduction in the Media reporting unit of $0.2 million in connection with the sale of content to Hearst Newspapers, a division of Hearst Communications, Inc. (“Hearst”) on April 24, 2020. Refer to Note 13 for additional information. We have two reporting units, Marketplaces and Media. Goodwill related to our Marketplaces reporting unit was $17.1 million as of June 30, 2020. Goodwill related to our Media reporting unit was $2.1 million and was recorded in connection with the acquisition of Well+Good in June 2018.

Intangible assets consisted of the following (in thousands):

	June 30, 2020
	Gross carrying		Accumulated		Net carrying
	amount		amortization		amount
Customer relationships	$	4,003	$	(3,478)	$	525
Artist relationships		12,216		(11,473)		743
Media content		86,164		(86,029)		135
Technology		6,204		(6,204)		—
Non-compete agreements		25		(25)		—
Trade names		18,239		(8,467)		9,772
	$	126,851	$	(115,676)	$	11,175

	December 31, 2019
	Gross carrying		Accumulated		Net carrying
	amount		amortization		amount
Customer relationships	$	4,003	$	(3,074)	$	929
Artist relationships		12,230		(11,336)		894
Media content		91,491		(91,333)		158
Technology		6,204		(6,156)		48
Non-compete agreements		25		(25)		—
Trade names		18,276		(7,716)		10,560
	$	132,229	$	(119,640)	$	12,589

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 June 30,				Six months ended June 30,
	2020		2019		2020		2019
Service costs	$	11	$	21	$	24	$	88
Sales and marketing		249		302		534		604
Product development		23		162		69		324
General and administrative		388		410		777		796
Total amortization	$	671	$	895	$	1,404	$	1,812