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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
In 2018, the Company’s goodwill balance was allocated to four reporting units: Bigstock, Editorial, Images and Music. During the second quarter of 2019, due to changes in the Company’s reporting structure, which resulted in a change in the way management monitors the business, as well as key milestones achieved in the continued integration of the Company’s operations and technology platform, management concluded that the Company now operates with a single reporting unit. The Company evaluated its goodwill immediately prior and subsequent to the change in reporting units and concluded that no adjustment to the carrying value of goodwill was necessary. The aggregate goodwill for the legacy reporting units was assigned to the single content business reporting unit. The Company’s goodwill balance will continue to be tested for impairment annually on October 1 or upon a triggering event.
The following table summarizes the changes in the Company’s goodwill balance during the six months ended June 30, 2019 (in thousands):
 
Goodwill
Balance as of December 31, 2018
$
88,576

Foreign currency translation adjustment
(149
)
Balance as of June 30, 2019
$
88,427



Intangible Assets
Intangible assets consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands):
 
As of June 30, 2019
 
 
 
As of December 31, 2018
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Weighted
Average Life
(Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
Amortizing intangible assets:
 

 
 

 
 
 
 
 
 
Customer relationships
$
17,224

 
$
(8,054
)
 
9
 
$
17,360

 
$
(7,135
)
Trade name
6,321

 
(5,633
)
 
7
 
6,372

 
(3,719
)
Developed technology
4,732

 
(3,809
)
 
4
 
4,940

 
(3,712
)
Contributor content
21,161

 
(5,577
)
 
10
 
19,912

 
(4,653
)
Patents
259

 
(92
)
 
18
 
259

 
(84
)
Total
$
49,697

 
$
(23,165
)
 
 
 
$
48,843

 
$
(19,303
)

Amortization expense was $2.9 million and $1.3 million for the three months ended June 30, 2019 and 2018, respectively, and $4.2 million and $2.8 million for the six months ended June 30, 2019 and 2018, respectively. The Company determined that there was no indication of impairment of the intangible assets for any period presented. Estimated amortization expense is: $3.0 million for the remaining six months of 2019, $5.5 million in 2020, $4.7 million in 2021, $3.7 million in 2022, $2.8 million in 2023, $2.7 million in 2024 and $4.1 million thereafter.