Summary of Significant Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Net Income (Loss) Per Common Share

The Company excluded the outstanding securities summarized below (capitalized terms are defined herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

	As of September 30,
	2021		2020
Series G convertible preferred stock		188,791		188,791
Series H Preferred Stock		59,243,926		58,206,061
Series I Preferred Stock		-		46,200,000
Series J Preferred Stock		-		43,584,500
Indemnity shares of common stock		-		412,500
Restricted Stock Awards		4,147,936		3,674,996
Financing Warrants		2,882,055		2,882,055
ABG Warrants		21,989,844		21,989,844
AllHipHop warrants		125,000		-
Publisher Partner Warrants		789,541		789,541
Common Stock Awards		6,861,973		8,033,936
Common Equity Awards		161,367,349		82,400,952
Outside Options		3,050,000		2,982,111
Total		260,646,415		271,345,287

The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

	As of December 31,
	2020		2019
Series G Preferred Stock		188,791		188,791
Series H Preferred Stock		59,384,849		58,787,879
Series I Preferred Stock		-		46,200,000
Series J Preferred Stock		-		28,571,429
Indemnity shares of common stock		-		412,500
Restricted Stock Awards		316,667		2,391,665
Financing Warrants		2,882,055		2,882,055
AllHipHop Warrants		125,000		-
Publisher Partner Warrants		789,541		939,540
ABG Warrants		21,989,844		21,989,844
Restricted Stock Units		-		2,399,997
Common Stock Awards		6,902,337		8,064,561
Common Equity Awards		82,062,314		65,013,645
Outside Options		3,052,000		3,724,667
Total		177,693,398		241,566,573

Schedule of Disaggregation of Revenue

The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Revenue by product line:
Advertising	$	21,678,480	$	9,409,031	$	46,300,974	$	28,788,631
Digital subscriptions		7,698,359		8,469,943		22,472,951		20,096,640
Magazine circulation		25,973,853		12,874,574		53,325,894		34,041,272
Other		4,222,816		1,336,445		5,835,682		2,667,243
Total	$	59,573,508	$	32,089,993	$	127,935,501	$	85,593,786
Revenue by geographical market:
United States	$	57,762,726	$	29,964,150	$	123,697,063	$	81,295,916
Other		1,810,782		2,125,843		4,238,438		4,297,870
Total	$	59,573,508	$	32,089,993	$	127,935,501	$	85,593,786
Revenue by timing of recognition:
At point in time	$	51,875,149	$	23,620,050	$	105,462,550	$	65,497,146
Over time		7,698,359		8,469,943		22,472,951		20,096,640
Total	$	59,573,508	$	32,089,993	$	127,935,501	$	85,593,786

The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition:

	Years Ended December 31,
	2020		2019
Revenue by product line:
Advertising	$	44,359,822	$	35,918,370
Digital subscriptions		28,495,676		6,855,038
Magazine circulation		50,580,213		9,046,473
Other		4,596,686		1,523,429
Total	$	128,032,397	$	53,343,310
Revenue by geographical market:
United States	$	122,570,712	$	52,611,255
Other		5,461,685		732,055
Total	$	128,032,397	$	53,343,310
Revenue by timing of recognition:
At point in time	$	99,536,721	$	47,557,652
Over time		28,495,676		5,785,658
Total	$	128,032,397	$	53,343,310

Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

	As of
	September 30, 2021		December 31, 2020
Unearned revenue (short-term contract liabilities):
Digital subscriptions	$	15,708,139	$	14,870,712
Magazine circulation		49,244,783		46,586,345
Advertising and other		6,352,733		168,619
	$	71,305,655	$	61,625,676
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	1,593,724	$	593,136
Magazine circulation		17,444,012		22,712,961
Other		170,000		192,500
	$	19,207,736	$	23,498,597

The following table provides information about contract balances:

	As of December 31,
	2020		2019
Unearned revenue (short-term contract liabilities):
Digital subscriptions	$	15,039,331	$	8,634,939
Magazine circulation		46,586,345		23,528,148
	$	61,625,676	$	32,163,087
Unearned revenue (long-term contract liabilities):
Digital subscriptions	$	593,136	$	478,557
Magazine circulation		22,712,961		30,478,154
Other		192,500		222,500
	$	23,498,597	$	31,179,211

Schedule of Cash and Restricted Cash

The following table reconciles total cash, cash equivalents, and restricted cash:

	As of December 31,
	2020		2019
Cash and cash equivalents	$	9,033,872	$	8,852,281
Restricted cash		500,809		620,809
Total cash, cash equivalents, and restricted cash	$	9,534,681	$	9,473,090

Schedule of Concentration of Credit Risk

Revenue from significant customers as a percentage of the Company’s total revenue are as follows:

	Years Ended December 31,
	2020		2019
Customer 1		-		22.4	%

Significant accounts payable balances as a percentage of the Company’s total accounts payable are as follows:

	As of December 31,
	2020		2019
Vendor 1 *		-		61.7	%

* The significant accounts payable balance as of December 31, 2019 related to the service agreements with Meredith Corporation (“Meredith”) (as described in Note 3).

 

Schedule of Depreciation and Amortization, Useful Lives of Assets

Office equipment and computers	1 – 3 years
Furniture and fixtures	1 – 5 years
Leasehold improvements	Shorter of remaining lease term or estimated useful life