Annual report pursuant to Section 13 and 15(d)

Film and Television Costs, net

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Film and Television Costs, net
 12 Months Ended
Dec. 31, 2023
Other Industries [Abstract]  
Film and Television Costs, net Film and Television Costs, net
The following table highlights the activity in Film and Television Costs as of December 31, 2023 and December 31, 2022 (in thousands):
Film and Television Costs, net as of December 31, 2021 $ 2,940 
Additions to Film and Television Costs 18,364 
Disposals (11)
Film Amortization Expense & Impairment Losses (12,996)
Foreign Currency Translation Adjustment (517)
Film and Television Costs, net as of December 31, 2022 7,780 
Additions to Film and Television Costs 1,078 
Disposals (41)
Film Amortization Expense & Impairment Losses (7,536)
Foreign Currency Translation Adjustment 14 
Film and Television Costs, net as of December 31, 2023 $ 1,295 
During the year ended December 31, 2023, the Company recorded amortization expense of $7.5 million, which includes impairment charges of $6.9 million. The impairments were a result of inactive projects, projects not advancing to the production stage due to a lack of interest from potential partners and an overall economic downturn affecting customers in the entertainment industry. During the year ended December 31, 2022, the Company recorded amortization expense of
$13.0 million, which includes impairment charges of $6.8 million comprised of $1.0 million related to the write-off of the license rights to YFE titles and $5.8 million related to production costs.