Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.19.2
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
Significant Changes in Our Contract Liabilities
Significant changes in our contract liabilities balances during the period are as follows:
 
   
Short-Term
   
Long-Term
 
 
 
 
 
 
 
 
   
(Dollars in thousands)
 
Balance, beginning of period January 1, 2019
  $ 11,537     $ 1,379  
Revenue recognized during the period that was included in the beginning balance of contract liabilities
    (4,254     —    
Additional amounts recognized during the period
    9,710       479  
Revenue recognized during the period that was recorded during the period
    (7,048     —    
Transfers
    492       (492
   
 
 
   
 
 
 
Balance, end of period June 30, 2019
  $ 10,437     $ 1,366  
   
 
 
   
 
 
 
Amount refundable at beginning of period
  $ 11,410     $ 1,379  
Amount refundable at end of period
  $ 10,347     $ 1,366  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
We expect to satisfy these performance obligations as follows:
 
   
Amount
 
For the Twelve Months Ended June 30,
 
(Dollars in thousands)
 
2020
  $ 10,437  
2021
    381  
2022
    475  
2023
    230  
2024
    117  
Thereafter
    163  
   
 
 
 
   
$
11,803
 
   
 
 
 
Trade and Barter Transactions Expenses
Trade and barter revenues and expenses were as follows:
 
   
Three Months Ended
   
Six Months Ended
 
   
June 30,
   
June 30,
 
    2018    
2019
    2018    
2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
(Dollars in thousands)
 
Net broadcast barter revenue
  $ 1,841    
$
1,415
    $ 3,531    
$
2,714
 
Net digital media barter revenue
    48      
—  
      93      
—  
 
Net publishing barter revenue
    6      
5
      7      
16
 
Net broadcast barter expense
  $ 1,487    
$
1,112
    $ 2,753    
$
2,468
 
Net digital media barter expense
    —        
—  
      —        
—  
 
Net publishing barter expense
    2      
1
      2      
1
 
Reconciliation of Revenue from Segments to Consolidated
The following table presents our revenues disaggregated by revenue source for each of our three operating segments:
 
   
Six Months Ended June 30, 2019
 
   
Broadcast
   
Digital Media
   
Publishing
   
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
(dollars in thousands)
 
By Source of Revenue:
                               
Block Programming - National
  $ 24,319     $ —       $ —       $  24,319  
Block Programming - Local
    15,320       —         —         15,320  
Spot Advertising - National
    7,988       —         —         7,988  
Spot Advertising - Local
    25,686       —         —         25,686  
Infomercials
    751       —         —         751  
Network
    9,261       —         —         9,261  
Digital Advertising
    5,370       10,316       182       15,868  
Digital Streaming
    345       1,981       —         2,326  
Digital Downloads and eBooks
    —         2,964       468       3,432  
Subscriptions
    549       4,071       393       5,013  
Book Sales and
e-commerce,
net of estimated sales returns and allowances
    232       443       5,171       5,846  
Self-Publishing Fees
    —         —         2,725       2,725  
Print Advertising
    3       —         280       283  
Other Revenues
    5,351       425       555       6,331  
   
 
 
   
 
 
   
 
 
   
 
 
 
   
$
95,175
   
$
20,200
   
$
9,774
   
$
125,149
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Timing of Revenue Recognition
                               
Point in Time
  $ 94,045     $ 20,172     $ 9,774     $ 123,991  
Rental Income (1)
    1,130       28       —         1,158  
   
 
 
   
 
 
   
 
 
   
 
 
 
   
$
95,175
   
$
20,200
   
$
9,774
   
$
125,149
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(1)
Rental income is not applicable to ASC Topic 606, but shown for the purpose of identifying each revenue source presented in total revenue on our Condensed Consolidated Financial Statements within this report on Form
10-Q.