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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2020
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Revenue by product line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advertising |  | $ | 7,541,616 |  |  | $ | 5,670,712 |  |  | $ | 19,379,600 |  |  | $ | 11,808,066 |
Digital subscriptions |  |  | 6,089,450 |  |  |  | 56,021 |  |  |  | 11,626,697 |  |  |  | 107,934 |
Magazine circulation |  |  | 8,629,166 |  |  |  | - |  |  |  | 21,166,698 |  |  |  | - |
Other |  |  | 830,708 |  |  |  | 43,550 |  |  |  | 1,330,798 |  |  |  | 128,246 |
Total |  | $ | 23,090,940 |  |  | $ | 5,770,283 |  |  | $ | 53,503,793 |  |  | $ | 12,044,246 |
Revenue by geographical market: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 22,049,636 |  |  | $ | 5,770,283 |  |  | $ | 51,331,766 |  |  | $ | 12,044,246 |
Other |  |  | 1,041,304 |  |  |  | - |  |  |  | 2,172,027 |  |  |  | - |
Total |  | $ | 23,090,940 |  |  | $ | 5,770,283 |  |  | $ | 53,503,793 |  |  | $ | 12,044,246 |
Revenue by timing of recognition: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At point in time |  | $ | 17,001,490 |  |  | $ | 5,714,262 |  |  | $ | 41,877,096 |  |  | $ | 11,936,312 |
Over time |  |  | 6,089,450 |  |  |  | 56,021 |  |  |  | 11,626,697 |  |  |  | 107,934 |
Total |  | $ | 23,090,940 |  |  | $ | 5,770,283 |  |  | $ | 53,503,793 |  |  | $ | 12,044,246 |
Schedule of Contract with Customer, Asset and Liability | The following table provides information about contract balances:
|  | As of |
|  | June 30, 2020 |  |  | December 31, 2019 |
Unearned revenue (short-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  |  | 12,688,136 |  |  |  | 8,634,939 |
Magazine circulation |  |  | 42,731,290 |  |  |  | 23,528,148 |
|  | $ | 55,419,426 |  |  | $ | 32,163,087 |
Unearned revenue (long-term contract liabilities): |  |  |  |  |  |  |  |
Digital subscriptions |  | $ | 1,473,758 |  |  | $ | 478,557 |
Magazine circulation |  |  | 13,135,330 |  |  |  | 30,478,154 |
Other |  |  | 207,500 |  |  |  | 222,500 |
|  | $ | 14,816,588 |  |  | $ | 31,179,211 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
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