
	June 30, 2026
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	35,973	$	705,150	$	741,123
In-production and in-development	—		182,094		182,094
Total owned original program rights, net	$	35,973	$	887,244	$	923,217

Licensed program rights, net:
Licensed film and acquired series	$	—	$	538,023	$	538,023
Licensed originals	—		112,521		112,521
Advances and other production costs	—		59,301		59,301
Total licensed program rights, net	—		709,845		709,845
Program rights, net	$	35,973	$	1,597,089	$	1,633,062

Current portion of program rights, net					$	5,280
Program rights, net (long-term)					1,627,782
					$	1,633,062


	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


	Three Months Ended June 30, 2026						Six Months Ended June 30, 2026
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	2,909	$	94,516	$	97,425	$	8,278	$	187,852	$	196,130
Licensed program rights	—		111,742		111,742		—		219,299		219,299
	$	2,909	$	206,258	$	209,167	$	8,278	$	407,151	$	415,429


	Three Months Ended June 30, 2025						Six Months Ended June 30, 2025
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	11,645	$	91,290	$	102,935	$	15,538	$	178,433	$	193,971
Licensed program rights	63		108,752		108,815		142		215,518		215,660
	$	11,708	$	200,042	$	211,750	$	15,680	$	393,951	$	409,631

There were no significant program rights write-offs included in technical and operating expenses for the three and six months ended June 30, 2026 or 2025.

In the normal course of business, the Company may qualify for tax incentives through eligible spend on productions. Receivables related to tax incentives earned on production spend as of June 30, 2026 consisted of $124.8 million recorded in Prepaid expenses and other current assets and $74.3 million recorded in Other assets. Receivables related to tax incentives earned on production spend as of December 31, 2025 consisted of $125.3 million recorded in Prepaid expenses and other current assets and $95.0 million recorded in Other assets.