v3.24.3
Segment Information (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Summary of Continuing Operations by Reportable Segment The Company has presented the components that reconcile adjusted operating income to operating income, and other information as to the continuing operations of the Company's operating segments below.
(In thousands)Three Months Ended September 30, 2024
Domestic OperationsInternationalCorporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$316,002 $48,510 $— $364,512 
Content licensing and other81,102 2,742 (4,335)79,509 
Distribution and other397,104 51,252 (4,335)444,021 
Advertising133,139 22,454 — 155,593 
Consolidated revenues, net$530,243 $73,706 $(4,335)$599,614 
Operating income (loss)$129,978 $8,702 $(45,027)$93,653 
Share-based compensation expenses2,608 775 2,393 5,776 
Depreciation and amortization8,695 4,065 10,337 23,097 
Restructuring and other related charges 3,454 — 42 3,496 
Cloud computing amortization3,272 — — 3,272 
Majority-owned equity investees AOI2,182 — — 2,182 
Adjusted operating income (loss)$150,189 $13,542 $(32,255)$131,476 

(In thousands)Three Months Ended September 30, 2023
Domestic OperationsInternationalCorporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$332,135 $56,173 $— $388,308 
Content licensing and other61,916 22,150 (1,842)82,224 
Distribution and other394,051 78,323 (1,842)470,532 
Advertising147,147 19,275 — 166,422 
Consolidated revenues, net$541,198 $97,598 $(1,842)$636,954 
Operating income (loss)$161,627 $7,985 $(48,762)$120,850 
Share-based compensation expenses3,494 815 2,069 6,378 
Depreciation and amortization11,536 4,271 12,202 28,009 
Impairment and other charges5,400 — — 5,400 
Restructuring and other related charges (credits)(783)(4)11,350 10,563 
Cloud computing amortization5 — 2,331 2,336 
Majority-owned equity investees AOI3,732 — — 3,732 
Adjusted operating income (loss)$185,011 $13,067 $(20,810)$177,268 
(In thousands)Nine Months Ended September 30, 2024
Domestic OperationsInternationalCorporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$961,136 $148,963 $— $1,110,099 
Content licensing and other209,431 8,942 (10,157)208,216 
   Distribution and other1,170,567 157,905 (10,157)1,318,315 
   Advertising422,193 81,501 — 503,694 
Consolidated revenues, net$1,592,760 $239,406 $(10,157)$1,822,009 
Operating income (loss)$374,730 $(26,484)$(133,627)$214,619 
Share-based compensation expenses8,586 2,446 9,276 20,308 
Depreciation and amortization29,522 12,241 33,653 75,416 
Impairment and other charges28,815 68,004 — 96,819 
Restructuring and other related charges 6,385 — 42 6,427 
Cloud computing amortization10,103 — — 10,103 
Majority-owned equity investees AOI9,715 — — 9,715 
Adjusted operating income (loss)$467,856 $56,207 $(90,656)$433,407 

(In thousands)Nine Months Ended September 30, 2023
Domestic OperationsInternationalCorporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$1,013,419 $170,143 $— $1,183,562 
Content licensing and other246,093 76,668 (6,816)315,945 
   Distribution and other1,259,512 246,811 (6,816)1,499,507 
   Advertising475,359 58,163 — 533,522 
Consolidated revenues, net$1,734,871 $304,974 $(6,816)$2,033,029 
Operating income (loss)$523,645 $10,422 $(134,212)$399,855 
Share-based compensation expenses10,133 2,500 7,038 19,671 
Depreciation and amortization35,053 13,944 30,632 79,629 
Impairment and other charges5,400 24,882 — 30,282 
Restructuring and other related charges3,940 1,642 16,955 22,537 
Cloud computing amortization15 — 6,800 6,815 
Majority-owned equity investees AOI11,019 — — 11,019 
Adjusted operating income (loss)$589,205 $53,390 $(72,787)$569,808 
Schedule of Summary of Inter-Segment Eliminations
Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International segments.
(In thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Inter-segment revenues
Domestic Operations$(3,737)$(1,825)$(7,025)$(6,451)
International(598)(17)(3,132)(365)
$(4,335)$(1,842)$(10,157)$(6,816)
Schedule of Revenue by Geographic Area
The table below summarizes revenues based on customer location:
(In thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Revenues
United States$481,390 $524,044 $1,452,897 $1,681,909 
Europe80,492 76,332 260,618 233,817 
Other37,732 36,578 108,494 117,303 
$599,614 $636,954 $1,822,009 $2,033,029 
Schedule of Disclosure on Geographic Areas, Long-Lived Assets
The table below summarizes property and equipment based on asset location:
(In thousands)September 30, 2024December 31, 2023
Property and equipment, net
United States$122,607 $146,314 
Europe11,035 11,850 
Other1,442 1,073 
$135,084 $159,237