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LICENSE AND MEDIA RIGHTS
 3 Months Ended
Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
License and Media Rights LICENSE AND MEDIA RIGHTS
MLB Promotion Rights Agreement
On October 11, 2022, the Company entered into a Promotional Rights Agreement (the “MLB Promotional Rights Agreement”) with MLB Advanced Media L.P., on its own behalf and on behalf of Major League Baseball Properties, Inc., the Office of the Commissioner of Baseball, The MLB Network, LLC and the Major League Baseball Clubs (collectively, the “MLB”), pursuant to which the Company entered into an strategic partnership with MLB to promote the Company’s new NSF-Certified for Sport® product line.
As consideration under the MLB promotional rights agreement, the Company has paid and is committed to pay a combination of cash over the license period, along with upfront non-cash consideration in the form of equity, as well as contingent consideration in the form of contingent payments based on revenue.
As of March 31, 2023 and December 31, 2022, the carrying value of the licensed properties was $20,059 and $23,399, respectively, recorded as a license and media rights asset within the condensed consolidated balance sheets. As of March 31, 2023 and December 31, 2022, the carrying value of the media rights was $7,482 recorded as a $2,500 prepaid asset and a $4,982 license and media rights asset within the condensed consolidated balance sheets. For the three months ended March 31, 2023, the Company paid the MLB $2,000 as part of the committed cash payments, and recognized $1,824 in amortization expense related to the license and media right assets. Licensed properties are amortized straight line and media rights are amortized as incurred.
Maturities of the MLB license and media rights payable as of March 31, 2023 are as follows:
Year Ending December 31:
2023 (9 months remaining)$6,000
202410,000 
202512,000 
Total payments
$28,000
Less: Imputed interest
(1,569)
Total license and media rights payable
$26,431
Less: Current license liabilities
(10,510)
Total non-current license and media rights payable
$15,921
As of March 31, 2023, expected amortization of licensed properties are as follows:
Year Ending December 31:
2023 (9 months remaining)$5,471
20247,294
20257,294
Total future amortization
$20,059