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Revenue
 12 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue

Note 3 — Revenue

 

The following table represents a disaggregation of revenue from contracts with customers for the years ended March 31, 2022 and 2021 (in thousands):

 

   Year Ended March 31, 
   2022   2021 
Revenue        
Membership services  $41,264   $33,577 
Advertising   33,739    20,779 
Merchandising   15,447    5,168 
Sponsorship and Licensing   7,051    3,878 
Ticket/Event   19,518    1,828 
Total Revenue  $117,019   $65,230 

 

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 years ended March 31, 2022 and 2021, one customer accounted for 28% and 36% of our consolidated revenues, respectively.

 

The following table summarizes the significant changes in contract liabilities balances during the years ended March 31, 2022 and 2021 (in thousands):

 

   Contract Liabilities 
Balance as of April 1, 2020  $949 
Revenue recognized that was included in the contract liability at beginning of period   (949)
Increase due to cash received, excluding amounts recognized as revenue during the period   1,262 
Balance as of March 31, 2021   1,262 
Revenue recognized that was included in the contract liability at beginning of period   (1,262)
Increase due to cash received, excluding amounts recognized as revenue during the period   1,157 
Balance as of March 31, 2022  $1,157