CONTENT ASSETS

6 Months Ended

Jun. 30, 2026

Capitalized Licensed Content Costs [Abstract]

7. CONTENT ASSETS

Content assets, net consisted of the following (in thousands):


	As of
	June 30, 2026		December 31, 2025
Licensed content, net and advances	$	89,459	$	95,017
Produced content:
Released, less amortization	55,742		57,808
Completed, not released	5,574		9,109
In production	7,833		8,039
Total produced content, net	69,149		74,956
Total Content assets, net and advances	$	158,608	$	169,973

Current portion (included in Prepaid expenses and other current assets)	$	6,988	$	2,065
Non-current portion	$	151,620	$	167,908

Amortization of content assets is primarily included in Cost of revenue, advertising in the condensed consolidated statements of operations and is as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Licensed content	$	43,777	$	42,517	$	79,810	$	80,178
Produced content	9,456		10,442		19,170		20,825
Total amortization costs	$	53,233	$	52,959	$	98,980	$	101,003