Quarterly report pursuant to Section 13 or 15(d)

Deferred Revenue

Deferred Revenue
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Deferred Revenue

Note 11: Deferred Revenue


As of September 30, 2022 and December 31, 2021, the Company had total short term and long term deferred revenue of $14.2 million and $3.9 million, respectively. Included in the deferred revenue balance as of September 30, 2022 is $10.6 million the Company assumed in the Wow Acquisition. The deferred revenue balance assumed represents cash received from customers for productions in progress. Revenue is fully recognized upon production completion. Deferred revenue also includes both (i) variable fee contracts with licensees and customers in which the Company had collected advances and minimum guarantees against future royalties and (ii) fixed fee contracts. The Company recognizes revenue related to these contracts when all revenue recognition criteria have been met.