| Program Rights |
Program Rights Total capitalized produced and licensed content by predominant monetization strategy is as follows: | | | | | | | | | | | | | | | | | | | September 30, 2024 | | (In thousands) | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | Owned original program rights, net: | | | | | | | Completed | $ | 76,360 | | | $ | 655,968 | | | $ | 732,328 | | | In-production and in-development | — | | | 286,056 | | | 286,056 | | | Total owned original program rights, net | $ | 76,360 | | | $ | 942,024 | | | $ | 1,018,384 | | | | | | | | | Licensed program rights, net: | | | | | | | Licensed film and acquired series | $ | 384 | | | $ | 574,710 | | | $ | 575,094 | | | Licensed originals | — | | | 110,282 | | | 110,282 | | | Advances and other production costs | — | | | 81,004 | | | 81,004 | | | Total licensed program rights, net | 384 | | | 765,996 | | | 766,380 | | | Program rights, net | $ | 76,744 | | | $ | 1,708,020 | | | $ | 1,784,764 | | | | | | | | | Current portion of program rights, net | | | | | $ | 9,136 | | | Program rights, net (long-term) | | | | | 1,775,628 | | | | | | | $ | 1,784,764 | | | | | | | |
| | | | | | | | | | | | | | | | | | | December 31, 2023 | | (In thousands) | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | Owned original program rights, net: | | | | | | | Completed | $ | 139,363 | | | $ | 532,839 | | | $ | 672,202 | | | In-production and in-development | — | | | 284,455 | | | 284,455 | | | Total owned original program rights, net | $ | 139,363 | | | $ | 817,294 | | | $ | 956,657 | | | | | | | | | Licensed program rights, net: | | | | | | | Licensed film and acquired series | $ | 973 | | | $ | 599,607 | | | $ | 600,580 | | | Licensed originals | 1,555 | | | 169,489 | | | 171,044 | | | Advances and other production costs | — | | | 82,252 | | | 82,252 | | | Total licensed program rights, net | 2,528 | | | 851,348 | | | 853,876 | | | Program rights, net | $ | 141,891 | | | $ | 1,668,642 | | | $ | 1,810,533 | | | | | | | | | Current portion of program rights, net | | | | | $ | 7,880 | | | Program rights, net (long-term) | | | | | 1,802,653 | | | | | | | $ | 1,810,533 | | | | | | | |
Amortization, including write-offs, of owned and licensed program rights, included in Technical and operating expenses in the condensed consolidated statements of income, is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2024 | | Nine Months Ended September 30, 2024 | | (In thousands) | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | | | | | | | | | | | | | Owned original program rights | $ | 20,707 | | | $ | 77,289 | | | $ | 97,996 | | | $ | 62,872 | | | $ | 215,959 | | | $ | 278,831 | | | Licensed program rights | 148 | | | 128,846 | | | 128,994 | | | 1,980 | | | 360,895 | | | 362,875 | | | Program rights amortization | $ | 20,855 | | | $ | 206,135 | | | $ | 226,990 | | | $ | 64,852 | | | $ | 576,854 | | | $ | 641,706 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2023 | | Nine Months Ended September 30, 2023 | | (In thousands) | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | Predominantly Monetized Individually | | Predominantly Monetized as a Group | | Total | | | | | | | | | | | | | | Owned original program rights | $ | 21,116 | | | $ | 63,800 | | | $ | 84,916 | | | $ | 101,947 | | | $ | 165,547 | | | $ | 267,494 | | | Licensed program rights | 485 | | | 110,898 | | | 111,383 | | | 2,620 | | | 356,571 | | | 359,191 | | | Program rights amortization | $ | 21,601 | | | $ | 174,698 | | | $ | 196,299 | | | $ | 104,567 | | | $ | 522,118 | | | $ | 626,685 | |
For programming rights predominantly monetized individually or as a group, the Company periodically reviews the programming usefulness of licensed and owned original program rights based on several factors, including expected future revenue generation from airings on the Company's networks and streaming services and other exploitation opportunities, ratings, type and quality of program material, standards and practices, and fitness for exhibition through various forms of distribution. If events or changes in circumstances indicate that the fair value of a film predominantly monetized individually or a film group is less than its unamortized cost, the Company will write off the excess to technical and operating expenses in the condensed consolidated statements of income. Program rights with no future programming usefulness are substantively abandoned resulting in the write-off of remaining unamortized cost. There were no significant program rights write-offs included in technical and operating expenses for the three and nine months ended September 30, 2024 or 2023. In the normal course of business, the Company may qualify for tax incentives through eligible investments in productions. Receivables related to tax incentives earned on production spend as of September 30, 2024 consisted of $150.6 million recorded in Prepaid expenses and other current assets and $57.8 million recorded in Other assets. Receivables related to tax incentives earned on production spend as of December 31, 2023 consisted of $230.3 million recorded in Prepaid expenses and other current assets and $49.9 million recorded in Other assets.
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