v3.26.1
Balance Sheet Components (Tables)
 6 Months Ended
Jun. 30, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Content Assets
Content assets consisted of the following:
As of
June 30,
2026		December 31,
2025
(in thousands)
Licensed content, net
$12,229,733 $12,138,578 
Produced content, net
Released, less amortization
10,487,502 10,687,444 
In production
10,313,433 9,210,735 
In development and pre-production
806,905 741,635 
21,607,840 20,639,814 

Content assets, net
$33,837,573 $32,778,392 
Schedule of Amortization of Content Assets
The following table summarizes the amortization of content assets:
Three Months EndedSix Months Ended
 June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
(in thousands)
Licensed content$2,260,963 $2,010,207 $4,546,776 $4,008,732 
Produced content2,050,346 1,821,867 3,982,433 3,646,454 
Total$4,311,309 $3,832,074 $8,529,209 $7,655,186 
Schedule of Property and Equipment and Accumulated Depreciation
Property and equipment and accumulated depreciation consisted of the following:
As of
June 30,
2026		December 31,
2025		Estimated Useful Lives
(in thousands)
Land
$155,717 $155,664 
Buildings and improvements
551,411 537,082 30 years
Leasehold improvements
1,368,550 1,263,051 Over life of lease
Furniture and fixtures
167,341 157,984 
3 years
Information technology
674,044 572,407 
3-5 years
Corporate aircraft
217,915 99,164 
8-10 years
Machinery and equipment
34,517 30,879 
3-5 years
Capital work-in-progress
449,133 285,010 
Property and equipment, gross
3,618,628 3,101,241 
Less: Accumulated depreciation
(1,219,780)(1,096,891)
Property and equipment, net
$2,398,848 $2,004,350 
Schedule of Information on Right-of-Use Assets and Lease Liabilities
Information related to the Company’s operating right-of-use assets and related operating lease liabilities were as follows:
Three Months EndedSix Months Ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
(in thousands)
Cash paid for operating lease liabilities$126,183 $129,574 $274,524 $247,921 
Right-of-use assets obtained in exchange for new operating lease obligations37,629 138,534 48,866 211,527 
As of
June 30,
2026		December 31,
2025
(in thousands)
Operating lease right-of-use assets, net$2,037,542 $2,207,161 
Current operating lease liabilities431,403 460,475 
Non-current operating lease liabilities1,899,018 2,052,526 
Total operating lease liabilities$2,330,421 $2,513,001 
Schedule of Other Current Assets
Other current assets consisted of the following:
As of
June 30,
2026		December 31,
2025
(in thousands)
Trade receivables
$2,003,958 $2,031,476 
Prepaid expenses
584,525 498,054 
Other
2,136,910 1,428,302 
Total other current assets
$4,725,393 $3,957,832