Revenue Recognition

3 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

10. Revenue Recognition

Meredith disaggregates revenue from contracts with customers by types of goods and services. A reconciliation of disaggregated revenue to segment revenue (as provided in Note 13) is as follows.

Three months ended September 30, 2020	National Media		Local Media		Intersegment Elimination			Total
(In millions)
Advertising related
Print	$	108.5	$	—		$	—	$	108.5
Non-political spot	—		56.8			—		56.8
Political spot	—		51.7			—		51.7
Digital	105.1		4.3			—		109.4
Third party sales	14.0		18.3			(0.2)		32.1
Total advertising related	227.6		131.1			(0.2)		358.5
Consumer related
Subscription	133.4		—			—		133.4
Retransmission	—		91.4			—		91.4
Newsstand	35.1		—			—		35.1
Affinity marketing	14.4		—			—		14.4
Licensing	24.1		—			—		24.1
Digital and other consumer driven	20.1		0.2			—		20.3
Total consumer related	227.1		91.6			—		318.7
Other
Projects based	9.9		—			—		9.9
Other	3.1		3.3			—		6.4
Total other	13.0		3.3			—		16.3
Total revenues	$	467.7	$	226.0		$	(0.2)	$	693.5

Three Months Ended September 30, 2019	National Media		Local Media		Intersegment Elimination			Total
(In millions)
Advertising related
Print	$	160.4	$	—		$	—	$	160.4
Non-political spot	—		76.8			—		76.8
Political spot	—		2.6			—		2.6
Digital	91.6		4.2			—		95.8
Third party sales	19.0		25.5			(0.5)		44.0
Total advertising related	271.0		109.1			(0.5)		379.6
Consumer related
Subscription	150.5		—			—		150.5
Retransmission	—		79.6			—		79.6
Newsstand	42.6		—			—		42.6
Affinity marketing	13.9		—			—		13.9
Licensing	20.0		—			—		20.0
Digital and other consumer driven	16.5		—			—		16.5
Total consumer related	243.5		79.6			—		323.1
Other
Projects based	14.4		—			—		14.4
Other	4.0		4.1			—		8.1
Total other	18.4		4.1			—		22.5
Total revenues	$	532.9	$	192.8		$	(0.5)	$	725.2

Contract Balances

The timing of Meredith’s performance under its various contracts often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. A contract asset is recognized when a good or service is transferred to a customer and the Company does not have the contractual right to bill for the related performance obligations. Due to the nature of its contracts, the Company does not have any significant contract assets. A contract liability is recognized when consideration is received from the customer prior to the transfer of goods or services. Current portion of contract liabilities were $413.6 million at September 30, 2020, and $403.2 million at June 30, 2020, and are presented as current portion of unearned revenues on the Condensed Consolidated Balance Sheets. Noncurrent contract liabilities were $280.1 million and $267.5 million at September 30, 2020 and June 30, 2020, respectively, and are reflected as unearned revenues on the Condensed Consolidated Balance Sheets. Revenue of $137.3 million and $156.0 million recognized in the three-month period ended September 30, 2020 and 2019, respectively, was in contract liabilities at the beginning of the period.