| CONTENT ASSETS, NET |
6. CONTENT ASSETS, NET The gross cost and accumulated amortization of content assets are as follows: | | | | | | | | | | | | | | | As of June 30, 2026 | | As of December 31, 2025 | | | | | | | | | | (In thousands) | | | | Licensed Content, net | | | | | | | Acquired | $ | 12,905 | | $ | 19,307 | | | | Produced Content, net | | | | | | | Completed | 79,134 | | 85,595 | | | | In production | 11,170 | | 7,089 | | | | In development and pre-production | — | | 30 | | | | Content assets, net | 103,209 | | 112,021 | | | | Less: current portion | (36,415) | | | (39,469) | | | | | Noncurrent portion | $ | 66,794 | | $ | 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 and six months ended June 30, 2026 and 2025 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (In thousands) | | (In thousands) | | Content amortization - acquired | $ | 3,617 | | | $ | 2,912 | | | $ | 7,207 | | | $ | 6,891 | | | Content amortization - produced | 6,441 | | | 6,689 | | | 12,719 | | | 12,592 | | | Total content amortization | $ | 10,058 | | | $ | 9,601 | | | $ | 19,926 | | | $ | 19,483 | | | | | | | | | |
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