v3.25.4
Program Rights and Obligations (Tables)
 12 Months Ended
Dec. 31, 2025
Film, Disclosures [Abstract]  
Schedule of Program Rights by Predominant Monetization Strategy
Total capitalized produced and licensed content by predominant monetization strategy is as follows:
December 31, 2025
(In thousands) Predominantly Monetized Individually  Predominantly Monetized as a Group  Total
Owned original program rights, net:
Completed$44,258 $597,009 $641,267 
In-production and in-development — 333,568 333,568 
Total owned original program rights, net$44,258 $930,577 $974,835 
Licensed program rights, net:
Licensed film and acquired series$— $593,491 $593,491 
Licensed originals— 141,243 141,243 
Advances and other production costs— 57,045 57,045 
Total licensed program rights, net— 791,779 791,779 
Program rights, net $44,258 $1,722,356 $1,766,614 
Current portion of program rights, net$3,530 
Program rights, net (long-term)1,763,084 
$1,766,614 
December 31, 2024
(In thousands) Predominantly Monetized Individually  Predominantly Monetized as a Group  Total
Owned original program rights, net:
Completed$65,129 $647,632 $712,761 
In-production and in-development — 222,660 222,660 
Total owned original program rights, net$65,129 $870,292 $935,421 
Licensed program rights, net:
Licensed film and acquired series$261 $543,396 $543,657 
Licensed originals— 147,245 147,245 
Advances and other production costs— 90,318 90,318 
Total licensed program rights, net261 780,959 781,220 
Program rights, net $65,390 $1,651,251 $1,716,641 
Current portion of program rights, net$2,689 
Program rights, net (long-term)1,713,952 
$1,716,641 
Schedule of Amortization of Owned and Licensed Program Rights
Amortization, including write-offs, of owned and licensed program rights is as follows:
Year Ended December 31, 2025
(In thousands)Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotal
Included in Technical and operating:
Owned original program rights$20,449 $364,211 $384,660 
Licensed program rights227 461,913 462,140 
$20,676 $826,124 $846,800 
For the year ended December 31, 2025, write-offs of owned original program rights and licensed program rights, included in restructuring and other related charges, were $0.7 million and $6.0 million, respectively, all of which were predominately monetized as a group.
Year Ended December 31, 2024
(In thousands)Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotal
Included in Technical and operating:
Owned original program rights$74,417 $319,385 $393,802 
Licensed program rights2,102 493,490 495,592 
$76,519 $812,875 $889,394 
For the year ended December 31, 2024, write-offs of owned original program rights and licensed program rights, included in restructuring and other related charges, were $38.3 million and $5.9 million, respectively, all of which were predominately monetized as a group.
Year Ended December 31, 2023
(In thousands)Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotal
Included in Technical and operating:
Owned original program rights$154,523 $282,954 $437,477 
Licensed program rights3,162 465,519 468,681 
$157,685 $748,473 $906,158 
Schedule of Expected Amortization of Owned and Licensed Program Rights
The following table presents the expected amortization over each of the next three years of completed program rights on the consolidated balance sheets as of December 31, 2025:
(In thousands)202620272028
Owned original program rights:
          Predominantly Monetized Individually$21,597 $20,885 $1,776 
          Predominantly Monetized as a Group312,315 169,671 79,637 
Licensed program rights:
          Predominantly Monetized as a Group374,771 198,632 111,254 
Schedule of Amounts Payable for Program Rights Obligations
Amounts payable subsequent to December 31, 2025 related to program rights obligations included in the consolidated balance sheets are as follows:
(In thousands)
Years Ending December 31, 
2026$258,252 
202799,891 
202854,213 
202925,810 
20301,590 
Thereafter269 
$440,025