Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

The expected timing of payments for these content obligations is as follows:


	As of
	March 31, 2026		December 31, 2025
	(in thousands)
Less than one year	$	11,779,222	$	11,528,030
Due after one year and through three years	8,611,852		8,376,160
Due after three years and through five years	2,825,509		3,041,538
Due after five years	922,848		1,093,500
Total content obligations	$	24,139,431	$	24,039,228