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Revenue (Tables)
6 Months Ended
Jun. 30, 2018
Revenue from Contract with Customer [Abstract]  
Composition of Revenue

Revenue is comprised of the following:

 

     Three months ended June 30,      Six months ended June 30,  
     2017      2018      2017      2018  

Commercial advertising

   $ 54,814,498      $ 53,414,405      $ 102,364,320      $ 101,116,875  

Digital advertising

     3,216,722        4,121,798        6,399,849        7,330,337  

Other

     2,982,194        4,089,093        5,989,796        8,331,711  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 61,013,414      $ 61,625,296      $ 114,753,965      $ 116,778,923  
  

 

 

    

 

 

    

 

 

    

 

 

 
Deferred Revenue

 

     December 31,      June 30,  
     2017      2018  

Deferred revenue

   $ 1,893,508      $ 3,305,989  

 

     Three months ended June 30,      Six months ended June 30,  
     2017      2018      2017      2018  

Losses on receivables

   $ 722,882      $ 188,383      $ 838,779      $ 414,114  

 

Trade Sale Revenue

Commercial advertising includes revenue from the sale or trade of commercial spots to advertisers directly or through national, regional or local advertising agencies. Commercial spots may be aired or streamed. Each commercial spot is considered a performance obligation. Revenue is recognized when the commercial spots have aired or streamed. Trade sales are recorded at the estimated fair value of the goods or services received. If commercial spots are aired or streamed before the goods or services are received then a trade sales receivable is recorded. If goods or services are received before the commercial spots are aired or streamed then a trade sales payable is recorded.

 

     December 31,      June 30,  
     2017      2018  

Trade sales receivable

   $ 1,550,172      $ 1,475,097  

Trade sales payable

     1,276,170        1,423,413  

 

     Three months ended June 30,      Six months ended June 30,  
     2017      2018      2017      2018  

Trade sales revenue

   $ 2,126,125      $ 1,736,658      $ 4,772,553      $ 3,619,088