v3.25.4

Program Rights and Obligations | 12 Months Ended
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Dec. 31, 2025
Film, Disclosures [Abstract] |
Programs Rights and Obligations | Program Rights and Obligations Program Rights Total capitalized produced and licensed content by predominant monetization strategy is as follows:
| December 31, 2025
(In thousands) | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Owned original program rights, net: |  |  |  |  |
Completed | $ | 44,258 |  |  | $ | 597,009 |  |  | $ | 641,267 |
In-production and in-development | — |  |  | 333,568 |  |  | 333,568 |
Total owned original program rights, net | $ | 44,258 |  |  | $ | 930,577 |  |  | $ | 974,835 |
Licensed program rights, net: |  |  |  |  |
Licensed film and acquired series | $ | — |  |  | $ | 593,491 |  |  | $ | 593,491 |
Licensed originals | — |  |  | 141,243 |  |  | 141,243 |
Advances and other production costs | — |  |  | 57,045 |  |  | 57,045 |
Total licensed program rights, net | — |  |  | 791,779 |  |  | 791,779 |
Program rights, net | $ | 44,258 |  |  | $ | 1,722,356 |  |  | $ | 1,766,614 |
Current portion of program rights, net |  |  |  |  | $ | 3,530 |
Program rights, net (long-term) |  |  |  |  | 1,763,084 |
|  |  |  |  | $ | 1,766,614 |
| 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 is as follows:
|  | Year Ended December 31, 2025
(In thousands) |  | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Included in Technical and operating: |  |  |  |  |  |
Owned original program rights |  | $ | 20,449 |  |  | $ | 364,211 |  |  | $ | 384,660 |
Licensed program rights |  | 227 |  |  | 461,913 |  |  | 462,140 |
|  | $ | 20,676 |  |  | $ | 826,124 |  |  | $ | 846,800 |
For the year ended December 31, 2025, write-offs of owned original program rights and licensed program rights, included in restructuring and other related charges, were $0.7 million and $6.0 million, respectively, all of which were predominately monetized as a group.
|  | Year Ended December 31, 2024
(In thousands) |  | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Included in Technical and operating: |  |  |  |  |  |
Owned original program rights |  | $ | 74,417 |  |  | $ | 319,385 |  |  | $ | 393,802 |
Licensed program rights |  | 2,102 |  |  | 493,490 |  |  | 495,592 |
|  | $ | 76,519 |  |  | $ | 812,875 |  |  | $ | 889,394 |
For the year ended December 31, 2024, write-offs of owned original program rights and licensed program rights, included in restructuring and other related charges, were $38.3 million and $5.9 million, respectively, all of which were predominately monetized as a group.
|  | Year Ended December 31, 2023
(In thousands) |  | Predominantly Monetized Individually |  | Predominantly Monetized as a Group |  | Total
Included in Technical and operating: |  |  |  |  |  |
Owned original program rights |  | $ | 154,523 |  |  | $ | 282,954 |  |  | $ | 437,477 |
Licensed program rights |  | 3,162 |  |  | 465,519 |  |  | 468,681 |
|  | $ | 157,685 |  |  | $ | 748,473 |  |  | $ | 906,158 |
The following table presents the expected amortization over each of the next three years of completed program rights on the consolidated balance sheets as of December 31, 2025:
(In thousands) |  | 2026 |  | 2027 |  | 2028
Owned original program rights: |  |  |  |  |  |
Predominantly Monetized Individually |  | $ | 21,597 |  |  | $ | 20,885 |  |  | $ | 1,776 |
Predominantly Monetized as a Group |  | 312,315 |  |  | 169,671 |  |  | 79,637 |
Licensed program rights: |  |  |  |  |  |
Predominantly Monetized as a Group |  | 374,771 |  |  | 198,632 |  |  | 111,254 |
There were no material write-offs included in technical and operating expense for the year ended December 31, 2025. Program rights write-offs for programming that was substantively abandoned of $20.7 million and $17.3 million were included in technical and operating expense for the years ended December 31, 2024 and 2023, respectively. For the year ended December 31, 2025, t here were $6.7 million of program write-offs recorded to restructuring and other related charges, primarily related to the wind-down of a U.K. joint venture, and for the year ended December 31, 2024, there were $44.2 million of program write-offs recorded to restructuring and other related charges in connection with the Company’s strategic programming assessments following the purchase of the remaining interest in BBCA. There were no program write-offs recorded to restructuring and other related charges for the year ended December 31, 2023. See Note 4 to the consolidated financial statements for additional information. Program Rights Obligations Amounts payable subsequent to December 31, 2025 related to program rights obligations included in the consolidated balance sheets are as follows:
(In thousands) |
Years Ending December 31, |
2026 | $ | 258,252 |
2027 | 99,891 |
2028 | 54,213 |
2029 | 25,810 |
2030 | 1,590 |
Thereafter | 269 |
| $ | 440,025 |

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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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Balance Type: | na
Period Type: | duration