Note 9 – Film Library

Film library costs, net of amortization, consists of the following:


	March 31,		December 31,
	2020		2019
Acquisition costs	$	57,824,149	$	51,270,615
Accumulated amortization		(20,461,547)		(18,020,466)
Net film library costs	$	37,362,602	$	33,250,149

Film library consists primarily of the cost of acquiring film distribution rights and related acquisition and accrued participation costs. Costs related to film distribution rights are amortized in the proportion that revenues bear to management’s estimates of the ultimate revenue expected to be recognized from various forms of exploitation.

Film library amortization recorded in the condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019 was $2,441,081 and $871,126, respectively.

During the three months ended March 31, 2020 and 2019, the Company did not record any impairments related to our film library.