SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents segment information with respect to the Company’s single operating segment for the first quarters ended March 31, 2026, and March 31, 2025:


	For the Quarters Ended
(In thousands)	March 31, 2026		March 31, 2025(1)
Revenues
Subscription	$	516,871	$	464,257
Advertising	126,824		108,076
Affiliate, licensing and other	68,541		63,577
Total revenues	$	712,236	$	635,910
Less:
Cost of revenue (excluding depreciation and amortization)	$	362,936	$	334,637
Sales and marketing	77,263		65,959
Product development	70,193		66,539
Adjusted general and administrative(2)	83,906		76,077
Total adjusted operating profit	$	117,938	$	92,698
Less:
Other components of net periodic benefit costs	3,582		4,638
Depreciation and amortization	20,563		21,378
Severance	1,379		2,607
Multiemployer pension plan withdrawal costs	1,167		1,229
Generative AI Litigation Costs	4,212		4,397


Multiemployer pension plan liability adjustment	—		4,453
Add:

Interest income and other, net	11,283		9,972
Income before income taxes	$	98,318	$	63,968

(1)Prior periods presented have been recast to conform to the current presentation. See Note 1 for additional information.

(2)Excludes severance and multiemployer pension plan withdrawal costs.