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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies

Note 10 — Commitments and contingencies

 

Content commitments

 

At June 30, 2021, the Company had $30,074 of content obligations comprised of $6,581 included in current content liabilities in the accompanying consolidated balance sheets, and $23,493 of obligations that are not reflected in the accompanying consolidated balance sheets as they did not yet meet the asset recognition criteria for content assets (see Note 4). Content obligations of $25,848 and $4,226 are expected to be paid during the six months ending December 31, 2021 and the year ending December 31, 2022, respectively.

 

At December 31, 2020, the Company had $26,022 of content obligations comprised of $2,116 included in current content liabilities in the accompanying consolidated balance sheets and $23,906 of obligations that are not reflected in the accompanying consolidated balance sheets as they did not yet meet the asset recognition criteria for content assets.

 

Content obligations include amounts related to licensed, commissioned and internally produced streaming content. An obligation for the production of content includes non-cancelable commitments under creative talent and employment agreements. An obligation for the licensed and commissioned content is incurred at the time the Company enters into an agreement to obtain future titles. Once a title becomes available, a content liability is generally recorded. Certain agreements include the obligation to license rights for unknown future titles, the ultimate quantity and/or fees for which are not yet determinable as of the reporting date.

 

Advertising commitments

 

The Company has certain commitments with regards to future advertising and marketing expenses as stated in the various licensee agreements. Certain of the agreements do not specify the amount of advertising and marketing commitment; however, the total commitments for agreements which do specify the amount are $12,016 as of June 30, 2021, of which $6,016, and $6,000 are expected to be paid during the six months ending December 31, 2021 and the year ending December 31, 2022, respectively.

 

Operating leases

 

The Company leases corporate office space in Silver Spring, Maryland. The lease expires February 28, 2033. The terms of the lease include a rent abatement period of ten months and a tenant improvement allowance of $93 and $295 for 2020 and 2021, respectively.

 

Total rent paid under the terms of the lease was $43 and $136 for the three months ended June 30, 2021 and 2020, respectively. Total rent paid was $43 and $272 for the six months ended June 30, 2021 and 2020, respectively. Rent expense has been calculated on a straight-line basis over the term of the lease. Accordingly, rent expense included in general and administrative expenses in the accompanying consolidated statements of operations was $127 and $133 for the three months ended June 30, 2021, and 2020, respectively, and rent expense was $257 and $266 for the six months ended June 30, 2021, and 2020, respectively. The rent and sublease rental income future minimum lease payments for the above operating lease are as follows:

 

   CuriosityStream rent   Sublease rental income   Net rent 
             
Remainder of six months ending December 31, 2021   261    (26)   235 
                
Years Ending December 31,               
2022   530    (53)   477 
2023   543    (54)   489 
2024   557    (56)   501 
2025   571    (57)   514 
Thereafter   4,531    (453)   4,078 
                
   $6,993   $(699)  $6,294