The Company classifies its content assets as Other non-current assets. The Company records amortization expense for licensed content based on the pattern of monetization of such content which is primarily straight-line. The Company amortizes produced content over the applicable content life cycle based upon the ratio of current period revenue to the estimated total gross revenues to be earned. Licensed and produced content assets are primarily monetized together as a unit, referred to as a film group. The film group is evaluated for impairment whenever an event occurs or circumstances change indicating the fair value is less than the carrying value. The Company reviews various qualitative factors and indicators to assess whether the group asset is impaired.

	As of
	June 30, 2021		December 31, 2020
Licensed content, net	$	88,160	$	7,907

Produced content, net
Released, less amortization		20,930		—
In production		4,369		—
		25,299		—

Total licensed and produced content, net	$	113,459	$	7,907

On January 8, 2021, the Company entered into an agreement with the mobile-first video distribution service known as Quibi to acquire certain content rights. The transaction was accounted for as an asset acquisition. As discussed in Note 4, the Company also acquired content assets as part of the This Old House acquisition. During the six months ended June 30, 2021, the increase of $105.6 million in content assets was primarily driven by content acquired from Quibi and This Old House.

The following table represents the amortization of content assets (in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Licensed content	$	15,855	$	6,059	$	25,471	$	12,182
Produced content		2,420		—		2,622		—
Total amortization costs⁽¹⁾	$	18,275	$	6,059	$	28,093	$	12,182

⁽¹⁾ Included in Cost of revenue, platform in the condensed consolidated statements of operations.