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Revenue
 3 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue

Note 3 — Revenue

 

The following table represents a disaggregation of revenue from contracts with customers for the three months ended June 30, 2021 and 2020 (in thousands):

 

   Three Months Ended
June 30,		 
   2021   2020 
Revenue        
Subscription Services  $9,084   $8,870 
Advertising   7,937    251 
Merchandising   3,660    
-
 
Sponsorship and Licensing   5,136    1,175 
Ticket/Event   12,950    211 
Total Revenue  $38,767   $10,507 

  

For some contracts, the Company may invoice up front for services recognized over time or for contracts in which the Company has unsatisfied performance obligations. Payment terms and conditions vary by contract type, although terms generally cover monthly payments. In the circumstances where the timing of invoicing differs from the timing of revenue recognition, the Company has determined its contracts do not include a significant financing component. The Company has elected to apply the practical expedient under ASC 606-10-50-14 and not provide disclosure of the amount and timing of performance obligations as the performance obligations are part of a contract that has an original expected duration of one year or less.

 

For the three months ended June 30, 2021 and 2020, one customer accounted for 18% and 58% of the Company’s consolidated revenues, respectively.

 

The following table summarizes the significant changes in contract liabilities balances during the three months ended June 30, 2021 (in thousands):

 

   Contract
Liabilities		 
Balance as of March 31, 2021  $1,262 
Revenue recognized that was included in the contract liability at beginning of period   (456)
Increase due to cash received, excluding amounts recognized as revenue during the period   1,030 
Balance as of June 30, 2021  $1,836