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Revenue
 9 Months Ended
Dec. 31, 2022
Revenue [Abstract]  
Revenue

Note 3 — Revenue

 

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

 

   Three Months Ended
December 31,		   Nine Months Ended
December 31,		 
   2022   2021   2022   2021 
Revenue                
Membership Services  $13,354   $10,698   $38,226   $29,660 
Advertising   8,498    8,541    26,138    25,286 
Merchandising   4,825    6,442    8,507    13,058 
Sponsorship and Licensing   76    1,194    389    6,498 
Ticket/Event   556    6,020    803    19,084 
Total Revenue  $27,309   $32,895   $74,063   $93,586 

  

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 December 31, 2022 and 2021, one customer accounted for 42% and 31% of the Company’s consolidated revenues, respectively. For the nine months ended December 31, 2022 and 2021, one customer accounted for 43% and 25% of the Company’s consolidated revenues, respectively.

 

The following table summarizes the significant changes in deferred revenue balances during the nine months ended December 31, 2022 (in thousands):

 

   Contract
Liabilities		 
Balance as of March 31, 2022  $1,157 
Revenue recognized that was included in the contract liability at beginning of period   (506)
Increase due to cash received, excluding amounts recognized as revenue during the period   338 
Balance as of December 31, 2022  $989