Produced Content, Net

PRODUCED CONTENT, NET

Released, less amortization and impairment

—Predominantly monetized with other content assets

—Predominantly monetized on its own

In production, less impairment

—Predominantly monetized with other content assets

—

Predominantly monetized on its own

In development, less impairment

—Predominantly monetized with other content assets

—Predominantly monetized on its own

Upon the initial application of ASU 2019-02,

Improvements to Accounting for Costs of Films and License Agreements for Program Materials

(“ASU 2019-02”) on January 1, 2020, amortization expense of RMB3,024 million, RMB4,641 million (US$728 million) and RMB1,095 million, RMB1,319 million (US$207 million) was recognized as cost of revenues in the consolidated statements of comprehensive income for the years ended December 31, 2020 and 2021, for produced content predominantly monetized with other content assets and for produced content predominantly monetized on its own, respectively. Prior to adopting ASU 2019-02, amortization expense for produced content was RMB2,977

million for the year ended December 31, 2019. As of December 31, 2021, approximately RMB400 million (US$63 million) of accrued participation liabilities will be paid in fiscal 2022.

Estimated amortization expense relating to the existing produced content for each of the next three years is as follows:

Between 1 and 2 years

Between 2 and 3 years