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Program Rights | 6 Months Ended
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Jun. 30, 2025
Film, Disclosures [Abstract] |
Program Rights | Program Rights Total capitalized produced and licensed content by predominant monetization strategy is as follows:
| June 30, 2025
(In thousands) | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Owned original program rights, net: |  |  |  |  |
Completed | $ | 48,615 |  |  | $ | 608,671 |  |  | $ | 657,286 |
In-production and in-development | — |  |  | 258,920 |  |  | 258,920 |
Total owned original program rights, net | $ | 48,615 |  |  | $ | 867,591 |  |  | $ | 916,206 |
Licensed program rights, net: |  |  |  |  |
Licensed film and acquired series | $ | 119 |  |  | $ | 621,013 |  |  | $ | 621,132 |
Licensed originals | — |  |  | 129,191 |  |  | 129,191 |
Advances and other production costs | — |  |  | 66,890 |  |  | 66,890 |
Total licensed program rights, net | 119 |  |  | 817,094 |  |  | 817,213 |
Program rights, net | $ | 48,734 |  |  | $ | 1,684,685 |  |  | $ | 1,733,419 |
Current portion of program rights, net |  |  |  |  | $ | 4,092 |
Program rights, net (long-term) |  |  |  |  | 1,729,327 |
|  |  |  |  | $ | 1,733,419 |
| December 31, 2024
(In thousands) | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Owned original program rights, net: |  |  |  |  |
Completed | $ | 65,129 |  |  | $ | 647,632 |  |  | $ | 712,761 |
In-production and in-development | — |  |  | 222,660 |  |  | 222,660 |
Total owned original program rights, net | $ | 65,129 |  |  | $ | 870,292 |  |  | $ | 935,421 |
Licensed program rights, net: |  |  |  |  |
Licensed film and acquired series | $ | 261 |  |  | $ | 543,396 |  |  | $ | 543,657 |
Licensed originals | — |  |  | 147,245 |  |  | 147,245 |
Advances and other production costs | — |  |  | 90,318 |  |  | 90,318 |
Total licensed program rights, net | 261 |  |  | 780,959 |  |  | 781,220 |
Program rights, net | $ | 65,390 |  |  | $ | 1,651,251 |  |  | $ | 1,716,641 |
Current portion of program rights, net |  |  |  |  | $ | 2,689 |
Program rights, net (long-term) |  |  |  |  | 1,713,952 |
|  |  |  |  | $ | 1,716,641 |
Amortization, including write-offs, of owned and licensed program rights, included in Technical and operating expenses in the condensed consolidated statements of income (loss), is as follows:
| Three Months Ended June 30, 2025 |  | Six Months Ended June 30, 2025
(In thousands) | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total |  | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Owned original program rights | $ | 11,645 |  |  | $ | 91,290 |  |  | $ | 102,935 |  |  | $ | 15,538 |  |  | $ | 178,433 |  |  | $ | 193,971 |
Licensed program rights | 63 |  |  | 108,752 |  |  | 108,815 |  |  | 142 |  |  | 215,518 |  |  | 215,660 |
| $ | 11,708 |  |  | $ | 200,042 |  |  | $ | 211,750 |  |  | $ | 15,680 |  |  | $ | 393,951 |  |  | $ | 409,631 |
| Three Months Ended June 30, 2024 |  | Six Months Ended June 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 | $ | 17,313 |  |  | $ | 78,564 |  |  | $ | 95,877 |  |  | $ | 42,165 |  |  | $ | 138,670 |  |  | $ | 180,835 |
Licensed program rights | 201 |  |  | 116,086 |  |  | 116,287 |  |  | 1,832 |  |  | 232,049 |  |  | 233,881 |
| $ | 17,514 |  |  | $ | 194,650 |  |  | $ | 212,164 |  |  | $ | 43,997 |  |  | $ | 370,719 |  |  | $ | 414,716 |
There were no significant program rights write-offs included in technical and operating expenses f or the three and six months ended June 30, 2025 or 2024. In the normal course of business, the Company may qualify for tax incentives through eligible spend on productions. Receivables related to tax incentives earned on production spend as of June 30, 2025 consisted of $175.2 million recorded in Prepaid expenses and other current assets and $42.7 million recorded in Other assets. Receivables related to tax incentives earned on production spend as of December 31, 2024 consisted of $182.0 million recorded in Prepaid expenses and other current assets and $42.4 million recorded in Other assets.

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- Definition Disclosure of unamortized programming licensed costs (e.g., programming rights licensed under agreements with independent producers to broadcast television series and other programming), and unamortized film production costs (e.g., direct production and production overhead costs, including acquired products and rights, relating to producing television series and specials). + References No definition available. + Details
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- References No definition available. + Details
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