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Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Contract Balances
Our contract assets relate to our trademark licensing revenue stream, which arrangements are typically long-term and non-cancelable. Contract assets are reclassified to accounts receivable when the right to bill becomes unconditional. Our contract liabilities consist of billings or payments received in advance of revenue recognition and are recognized as revenue when transfer of control to customers has occurred. Contract assets and contract liabilities are netted on a contract-by-contract basis. Contract liabilities are classified as deferred revenue in the consolidated balance sheets as of June 30, 2024 and December 31, 2023.
The following table summarizes our contract assets and certain contract liabilities (in thousands). Such table excludes $4.2 million of accounts receivable included in assets held for sale in our consolidated balance sheets as of December 31, 2022, and $0.3 million of contract liabilities included in liabilities held for sale in our consolidated balance sheet as of December 31, 2022.
June 30,
2024		December 31,
2023		December 31,
2022
Accounts receivable$5,724 $7,496 $14,214 
Contract Balances:
Contract assets, current portion$2,120 $1,547 $2,559 
Contract assets, net of current portion8,014 8,716 13,680 
Contract liabilities, current portion(9,583)(9,205)(10,480)
Contract liabilities, net of current portion(4,755)(4,641)(21,406)
Contract liabilities, net$(4,204)$(3,583)$(15,647)
The following tables provide a roll-forward of our netted contract assets and contract liabilities from continuing operations (in thousands):
Contract Liabilities, Net
Balance at December 31, 2023$(3,583)
Revenues recognized that were included in gross contract liabilities at December 31, 202313,195 
Contract assets reclassified to accounts receivable in the six months ended June 30, 2024
(11,882)
Cash received in advance since prior year and remains in net contract liabilities at period-end(1,934)
Balance at June 30, 2024$(4,204)
Contract Liabilities, Net
Balance at December 31, 2022$(15,647)
Revenues recognized that were included in gross contract liabilities at December 31, 202222,065 
Contract assets reclassified to accounts receivable in the six months ended June 30, 2023
(22,529)
Cash received in advance since prior year and remained in net contract liabilities at period-end(2,356)
Write-down of contract liabilities due to impairment of a trademark licensing agreement3,150 
Contract impairments, modifications and terminations in 2023(5,834)
Balance at June 30, 2023$(21,151)
Future Performance Obligations
As of June 30, 2024, unrecognized revenue attributable to unsatisfied and partially unsatisfied performance obligations under our long-term contracts was $72.5 million, of which $66.2 million related to trademark licensing, $5.5 million related to digital subscriptions and products, and $0.8 million related to direct-to-consumer products. Unrecognized revenue of the trademark licensing revenue stream is expected to be recognized over the next seven years, of which 97% is expected to be recognized in the first five years. Unrecognized revenue of the digital subscriptions and products revenue stream is expected to be recognized over the next five years, of which 51% is expected to be recognized in the first year. Unrecognized revenues under contracts disclosed above do not include contracts for which variable consideration is determined based on the customer’s subsequent sale or usage.
Disaggregation of Revenue
The following table disaggregates revenue by type (in thousands):
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
LicensingDirect-to-Consumer
Digital Subscriptions and Content
OtherTotalLicensingDirect-to-Consumer
Digital Subscriptions and Content
OtherTotal
Trademark licensing$5,272 $— $— $— $5,272 $9,357 $— $— $— $9,357 
Digital subscriptions and products— — 3,479 — 3,479 — — 7,283 — 7,283 
TV and cable programming— — 1,630 — 1,630 — — 3,320 — 3,320 
Consumer products— 14,504 — — 14,504 — 33,244 — — 33,244 
Total revenues$5,272 $14,504 $5,109 $— $24,885 $9,357 $33,244 $10,603 $— $53,204 
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
LicensingDirect-to-Consumer
Digital Subscriptions and Content
OtherTotalLicensingDirect-to-Consumer
Digital Subscriptions and Content
OtherTotal
Trademark licensing$10,288 $— $— $— $10,288 $19,982 $— $— $— $19,982 
Digital subscriptions and products
— — 3,097 1 3,098 — — 5,786 4 5,790 
TV and cable programming— — 2,015 — 2,015 — — 4,064 — 4,064 
Consumer products— 19,700 — — 19,700 — 40,468 — — 40,468 
Total revenues$10,288 $19,700 $5,112 $1 $35,101 $19,982 $40,468 $9,850 $4 $70,304 
The following table disaggregates revenue by point in time versus over time (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Point in time$15,837 $20,801 $36,125 $42,144 
Over time9,048 14,300 17,079 28,160 
Total revenues$24,885 $35,101 $53,204 $70,304