v3.26.1
CONTENT ASSETS, NET
 12 Months Ended
Dec. 31, 2025
CONTENT ASSETS [Abstract]  
CONTENT ASSETS, NET
7. CONTENT ASSETS, NET
The gross cost and accumulated amortization of content assets is as follows:
As of December 31,
20252024
(in thousands)
Licensed Content, Net
Acquired$19,307 $25,389 
Produced Content, Net
Completed85,595 86,367 
In production7,089 11,798 
In development and pre-production30 175 
Content assets, net112,021 123,729 
Less: current portion of content assets, net(39,469)(36,861)
Noncurrent portion$72,552 $86,868 
Amortization of content assets is recorded in the consolidated statements of operations as programming and technical expenses. Content amortization for the years ended December 31, 2025 and 2024 is as follows:
Years Ended December 31,
20252024
(in thousands)
Content amortization - acquired$14,587 $14,376 
Content amortization - produced28,236 31,921 
Total content amortization$42,823 $46,297 
Future estimated content amortization expense as of December 31, 2025 for content assets is as follows:
ProducedAcquiredTotal
(in thousands)
2026$27,385 $12,084 $39,469 
202724,450 5,805 30,256 
202820,916 1,471 22,386 
202911,105 28 11,133 
2030 and thereafter8,755 23 8,778 
Future estimated content amortization expense is not included for in-production or in-development content assets in the table above.
Future minimum content payments required under agreements entered into as of December 31, 2025, are as follows:
(in thousands)
2026$9,446 
20274,066 
2028993