CONTENT ASSETS

3 Months Ended

Mar. 31, 2026

Capitalized Licensed Content Costs [Abstract]

CONTENT ASSETS

7. CONTENT ASSETS

Content assets, net consisted of the following (in thousands):

	As of
	March 31, 2026		December 31, 2025
Licensed content, net and advances	$	91,113	$	95,017
Produced content:
Released, less amortization	55,722		57,808
Completed, not released	10,701		9,109
In production	7,520		8,039
Total produced content, net	73,943		74,956
Total Content assets, net and advances	$	165,056	$	169,973
Current portion (included in Prepaid expenses and other current assets)	$	3,152	$	2,065
Non-current portion	$	161,904	$	167,908

Amortization of content assets is primarily included in Cost of revenue, advertising in the condensed consolidated statements of operations and is as follows (in thousands):

	Three Months Ended
	March 31, 2026		March 31, 2025
Licensed content	$	36,033	$	37,661
Produced content	9,714		10,383
Total amortization costs	$	45,747	$	48,044