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Goodwill and Intangible Assets
 12 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 6 — Goodwill and Intangible Assets

 

Goodwill

 

The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the years ended March 31, 2020 and 2019 (in thousands):

   Goodwill 
Balance as of April 1, 2018  $5,377 
Acquisitions   - 
Finalization of purchase price allocation of Slacker (see Note 5)   4,295 
Balance as of March 31, 2019  $9,672 
Acquisitions   - 
Impairment losses   - 
Balance as of March 31, 2020  $9,672 

 

Indefinite-Lived Intangible Assets

 

The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company's reportable segment for the year ended March 31, 2020 (in thousands):

 

   Tradenames 
Balance as of April 1, 2018  $- 
Finalization of purchase price allocation of Slacker (see Note 5)   4,637 
Impairment losses   - 
Balance as of March 31, 2019  $4,637 
Acquisitions   - 
Impairment losses   - 
Balance as of March 31, 2020  $4,637 

  

Finite-Lived Intangible Assets

 

The Company's finite-lived intangible assets were as follows as of March 31, 2020 (in thousands):

 

   Gross Carrying Value   Accumulated Amortization   Net Carrying Value 
Software  $19,280   $8,674   $10,606 
Intellectual property (patents)   5,366    805    4,561 
Customer relationships   6,570    5,128    1,442 
Domain names   29    13    16 
Brand names   1,500    17    1,483 
Non-compete agreement   250    14    236 
Fan database   230    13    217 
Total  $33,225   $14,664   $18,561 

 

The Company's finite-lived intangible assets were as follows as of March 31, 2019 (in thousands):

 

   Gross Carrying Value   Accumulated Amortization   Net Carrying Value 
Software  $19,280   $4,819   $14,461 
Intellectual property (patents)   5,366    447    4,919 
Customer relationships   6,570    3,665    2,905 
Domain names   29    8    21 
Total  $31,245   $8,939   $22,306 

 

The Company's amortization expense on its finite-lived intangible assets was $5.7 million and $6.5 million for the years ended March 31, 2020 and 2019, respectively.

 

The Company estimated future amortization expense on its finite-lived intangible assets as of March 31, 2020 to be as follows (in thousands):

 

For Years Ended March 31,    
2021  $5,008 
2022   5,008 
2023   3,885 
2024   461 
2025   461 
Thereafter   3,738 
   $18,561