Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Amortizable Intangible Assets

12 Months Ended

Dec. 31, 2022

NOTE 10. AMORTIZABLE INTANGIBLE ASSETS

The following tables provide a summary of our significant classes of amortizable intangible assets:


	As of December 31, 2022
	Cost		Accumulated Amortization			Net
	(Dollars in thousands)
Customer lists and contracts	$	24,186	$	(23,006	)	$	1,180
Domain and brand names		19,978		(19,704	)		274
Favorable and assigned leases		2,188		(1,975	)		213
Subscriber base and lists		8,647		(8,531	)		116
Author relationships		3,070		(2,771	)		299
Non-compete agreements		2,052		(2,044	)		8
Other amortizable intangible assets		1,411		(1,352	)		59

	$	61,532	$	(59,383	)	$	2,149


	As of December 31, 2021
	Cost		Accumulated Amortization			Net
	(Dollars in thousands)
Customer lists and contracts	$	23,700	$	(22,198	)	$	1,502
Domain and brand names		19,875		(19,421	)		454
Favorable and assigned leases		2,188		(1,960	)		228
Subscriber base and lists		8,647		(8,387	)		260
Author relationships		2,771		(2,771	)		—
Non-compete agreements		2,041		(2,041	)		—
Other amortizable intangible assets		1,332		(1,332	)		—

	$	60,554	$	(58,110	)	$	2,444

Amortization expense was approximately $1.3 million and $1.9 million for the years ended December 31, 2022, and 2021, respectively.

Based on the amortizable intangible assets as of December 31, 2022, we estimate amortization expense for the next five years to be as follows: