CONTENT ASSETS, NET

3 Months Ended

Mar. 31, 2026

6. CONTENT ASSETS, NET

The gross cost and accumulated amortization of content assets are as follows:


	As of March 31, 2026		As of December 31, 2025

	(In thousands)
Licensed Content, net
Acquired	$	16,535	$	19,307
Produced Content, net
Completed	83,359		85,595
In production	7,038		7,089
In development and pre-production	—		30
Content assets, net	106,932		112,021
Less: current portion	(38,441)		(39,469)
Noncurrent portion	$	68,491	$	72,552

Amortization of content assets is recorded in the unaudited condensed consolidated statements of operations as programming and technical expenses. Content amortization for the three months ended March 31, 2026 and 2025 is as follows:


	Three Months Ended March 31,
	2026		2025
	(In thousands)
Content amortization - acquired	$	3,590	$	3,979
Content amortization - produced	6,279		5,903
Total content amortization	$	9,869	$	9,882