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Summary of Significant Accounting Policies (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Accounting Policies [Abstract]    
Schedule of Net Income (Loss) Per Common Share

The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

 

   As of June 30, 
   2021   2020 
Series G convertible preferred stock   188,791    188,791 
Series H Preferred Stock   59,384,849    58,787,879 
Series I Preferred Stock   -    46,200,000 
Series J Preferred Stock   -    28,571,428 
Indemnity shares of common stock   -    412,500 
Restricted Stock Awards   4,444,047    1,433,332 
Financing Warrants   2,882,055    2,882,055 
ABG Warrants   21,989,844    21,989,844 
AllHipHop warrants   125,000    - 
Publisher Partner Warrants   789,541    789,541 
Restricted Stock Units   -    2,399,997 
Common Stock Awards   6,872,890    8,033,936 
Common Equity Awards   160,352,784    82,744,480 
Outside Options   3,050,000    2,986,000 
Total   260,079,801    257,419,783 

The Company excluded the outstanding securities summarized below (capitalized terms are described herein), which entitle the holders thereof to acquire shares of the Company’s common stock, from its calculation of net income loss per common share, as their effect would have been anti-dilutive.

 

   As of December 31, 
   2020   2019 
Series G Preferred Stock   188,791    188,791 
Series H Preferred Stock   59,384,849    58,787,879 
Series I Preferred Stock   -    46,200,000 
Series J Preferred Stock   -    28,571,429 
Indemnity shares of common stock   -    412,500 
Restricted Stock Awards   316,667    2,391,665 
Financing Warrants   2,882,055    2,882,055 
AllHipHop Warrants   125,000    - 
Publisher Partner Warrants   789,541    939,540 
ABG Warrants   21,989,844    21,989,844 
Restricted Stock Units   -    2,399,997 
Common Stock Awards   6,902,337    8,064,561 
Common Equity Awards   82,062,314    65,013,645 
Outside Options   3,052,000    3,724,667 
Total   177,693,398    241,566,573 
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,

 
   2021   2020   2021   2020 
Revenue by product line:                    
Advertising  $13,548,069   $7,541,616   $24,622,494   $19,379,600 
Digital subscriptions   7,690,111    6,089,450    14,774,592    11,626,697 
Magazine circulation   12,642,018    8,629,166    27,352,041    21,166,698 
Other   866,314    830,708    1,612,866    1,330,798 
Total  $34,746,512   $23,090,940   $68,361,993   $53,503,793 
Revenue by geographical market:                    
United States  $33,360,160   $22,049,636   $65,934,337   $51,331,766 
Other   1,386,352    1,041,304    2,427,656    2,172,027 
Total  $34,746,512   $23,090,940   $68,361,993   $53,503,793 
Revenue by timing of recognition:                    
At point in time  $27,056,401   $17,001,490   $53,587,401   $41,877,096 
Over time   7,690,111    6,089,450    14,774,592    11,626,697 
Total  $34,746,512   $23,090,940   $68,361,993   $53,503,793 

The following table provides information about disaggregated revenue by product line, geographical market and timing of revenue recognition:

 

   Years Ended December 31, 
   2020   2019 
Revenue by product line:          
Advertising  $44,359,822   $35,918,370 
Digital subscriptions   28,495,676    6,855,038 
Magazine circulation   50,580,213    9,046,473 
Other   4,596,686    1,523,429 
Total  $128,032,397   $53,343,310 
Revenue by geographical market:          
United States  $122,570,712   $52,611,255 
Other   5,461,685    732,055 
Total  $128,032,397   $53,343,310 
Revenue by timing of recognition:          
At point in time  $99,536,721   $47,557,652 
Over time   28,495,676    5,785,658 
Total  $128,032,397   $53,343,310 
Schedule of Contract with Customer, Asset and Liability

The following table provides information about contract balances:

 

   As of 
   June 30, 2021   December 31, 2020 
Unearned revenue (short-term contract liabilities):          
Digital subscriptions  $19,358,809   $15,039,331 
Magazine circulation   52,539,366    46,586,345 
   $71,898,175   $61,625,676 
Unearned revenue (long-term contract liabilities):          
Digital subscriptions  $685,039   $593,136 
Magazine circulation   27,297,916    22,712,961 
Other   177,500    192,500 
   $28,160,455   $23,498,597 

The following table provides information about contract balances:

 

   As of December 31, 
   2020   2019 
Unearned revenue (short-term contract liabilities):          
Digital subscriptions  $15,039,331   $8,634,939 
Magazine circulation   46,586,345    23,528,148 
   $61,625,676   $32,163,087 
Unearned revenue (long-term contract liabilities):          
Digital subscriptions  $593,136   $478,557 
Magazine circulation   22,712,961    30,478,154 
Other   192,500    222,500 
   $23,498,597   $31,179,211 
Schedule of Cash and Restricted Cash  

The following table reconciles total cash, cash equivalents, and restricted cash:

 

     2020     2019 
   As of December 31, 
   2020   2019 
Cash and cash equivalents  $9,033,872   $8,852,281 
Restricted cash   500,809    620,809 
Total cash, cash equivalents, and restricted cash  $9,534,681   $9,473,090 
Schedule of Concentration of Credit Risk  

Revenue from significant customers as a percentage of the Company’s total revenue are as follows:

 

   Years Ended December 31, 
   2020   2019 
Customer 1   -    22.4%

Significant accounts payable balances as a percentage of the Company’s total accounts payable are as follows:

 

   As of December 31, 
   2020   2019 
Vendor 1 *   -    61.7%

 

* The significant accounts payable balance as of December 31, 2019 related to the service agreements with Meredith Corporation (“Meredith”) (as described in Note 3).

 
Schedule of Depreciation and Amortization, Useful Lives of Assets  

 

Office equipment and computers 1 – 3 years
Furniture and fixtures 1 – 5 years
Leasehold improvements Shorter of remaining lease term or estimated useful life