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REVENUES
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
The following table presents the Company’s revenues disaggregated by revenue source (in millions).
Three Months Ended March 31, 2024
StudiosNetworksDTCCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$5 $2,797 $2,185 $(2)$4,985 
Advertising4 1,987 175 (18)2,148 
Content2,623 264 99 (428)2,558 
Other189 77 1 — 267 
Total$2,821 $5,125 $2,460 $(448)$9,958 
Three Months Ended March 31, 2023
StudiosNetworksDTCCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$3 $2,995 $2,165 $— $5,163 
Advertising3 2,237 103 (45)2,298 
Content3,027 245 185 (503)2,954 
Other179 104 2 — 285 
Total$3,212 $5,581 $2,455 $(548)$10,700 
Contract Liabilities and Contract Assets
The following table presents contract liabilities on the consolidated balance sheets (in millions).
CategoryBalance Sheet LocationMarch 31, 2024December 31, 2023
Contract liabilitiesDeferred revenues$1,993 $1,924 
Contract liabilitiesOther noncurrent liabilities219 160 
For the three months ended March 31, 2024 and 2023, respectively, revenues of $772 million and $856 million were recognized that were included in deferred revenues as of December 31, 2023 and December 31, 2022, respectively. Contract assets were not material as of March 31, 2024 and December 31, 2023.
Remaining Performance Obligations
As of March 31, 2024, $11,180 million of revenue is expected to be recognized from remaining performance obligations under our long-term contracts. The following table presents a summary of remaining performance obligations by contract type (in millions).
Contract TypeMarch 31, 2024Duration
Distribution - fixed price or minimum guarantee$3,260 
Through 2031
Content licensing and sports sublicensing4,918 
Through 2030
Brand licensing2,215 
Through 2043
Advertising787 
Through 2027
Total$11,180 
The value of unsatisfied performance obligations disclosed above does not include: (i) contracts involving variable consideration for which revenues are recognized in accordance with the sales or usage-based royalty exception, and (ii) contracts with an original expected length of one year or less, such as most advertising contracts; however for content licensing revenues, including revenues associated with the licensing of theatrical and television product for television and streaming services, the Company has included all contracts regardless of duration.