Annual report pursuant to Section 13 and 15(d)

Deferred Revenue

Deferred Revenue
12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Deferred Revenue

Note 11: Deferred Revenue


As of December 31, 2021, and 2020, the Company had total short term and long term deferred revenue of $3.9 million and $4.4 million, respectively. Deferred revenue 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. Included in the deferred revenue balance as of December 31, 2021 is $3.4 million which is the remaining balance from the total $3.5 million advance against future royalty that Sony paid to the Company for both the foreign and domestic distribution rights.