Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.20.2
Revenue Recognition (Tables)
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Trade and Barter Transactions Expenses
Trade and barter revenues and expenses were as follows:
 
    
Three Months Ended

September 30,
    
Nine Months Ended

September 30,
 
     2019     
2020
     2019     
2020
 
    
(Dollars in thousands)
 
Net broadcast barter revenue
   $ 1,366      $
444
 
   $ 4,080      $
2,118
 
Net digital media barter revenue
     —       
 
—  
 
     —       
 
—  
 
Net publishing barter revenue
     17     
 
3
 
     33     
 
34
 
Net broadcast barter expense
   $ 1,199      $
413
 
   $ 3,667      $
1,971
 
Net digital media barter expense
     —       
 
—  
 
     —       
 
—  
 
Net publishing barter expense
     5     
 
—  
 
     6     
 
—  
 
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, 2020
   $ 9,493      $ 1,744  
Revenue recognized during the period that was included in the beginning balance of contract liabilities
     (6,123      —    
Additional amounts recognized during the period
     21,022        678  
Revenue recognized during the period that was recorded during the period
     (10,283      —    
Transfers
     604        (604
  
 
 
    
 
 
 
Balance, end of period September 30, 2020
   $ 14,713      $ 1,818  
  
 
 
    
 
 
 
Amount refundable at beginning of period
   $ 9,403      $ 1,744  
Amount refundable at end of period
   $ 14,648      $ 1,818  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
We expect to satisfy these performance obligations as follows:
 
    
Amount
 
For the Twelve Months Ended September 30,
  
(Dollars in thousands)
 
2021
   $ 14,713  
2022
     618  
2023
     689  
2024
     266  
2025
     128  
Thereafter
     117  
  
 
 
 
   $ 16,531  
  
 
 
 
Reconciliation of Revenue from Segments to Consolidated
The following table presents our revenues disaggregated by revenue source for each of our operating segments:
 
    
Nine Months Ended September 30, 2020
 
    
Broadcast
    
Digital Media
    
Publishing
    
Consolidated
 
    
(dollars in thousands)
 
By Source of Revenue:
           
Block Programming - National
   $ 35,536      $ —        $ —        $ 35,536  
Block Programming - Local
     18,211        —          —          18,211  
Spot Advertising - National
     10,179        —          —          10,179  
Spot Advertising - Local
     28,630        —          —          28,630  
Infomercials
     750        —          —          750  
Network
     13,505        —          —          13,505  
Digital Advertising
     10,676        14,473        216        25,365  
Digital Streaming
     1,981        2,611        —          4,592  
Digital Downloads and eBooks
     3,049        4,291        960        8,300  
Subscriptions
     868        6,679        519        8,066  
Book Sales and
e-commerce,
net of estimated sales returns and allowances
     1,128        108        6,849        8,085  
Self-Publishing Fees
     —          —          3,860        3,860  
Print Advertising
     1        —          278        279  
Other Revenues
     5,527        193        684        6,404  
  
 
 
    
 
 
    
 
 
    
 
 
 
  
$
130,041
 
  
$
28,355
 
  
$
13,366
 
  
$
171,762
 
  
 
 
    
 
 
    
 
 
    
 
 
 
Timing of Revenue Recognition
                           
Point in Time
   $ 128,157      $ 28,319      $ 13,366      $ 169,842  
Rental Income (1)
     1,884        36        —          1,920  
  
 
 
    
 
 
    
 
 
    
 
 
 
  
$
130,041
 
  
$
28,355
 
  
$
13,366
 
  
$
171,762
 
  
 
 
    
 
 
    
 
 
    
 
 
 
 
    
Nine Months Ended September 30, 2019
 
    
Broadcast
    
Digital Media
    
Publishing
    
Consolidated
 
    
(dollars in thousands)
 
By Source of Revenue:
           
Block Programming - National
   $ 36,517      $ —        $ —        $ 36,517  
Block Programming - Local
     22,867        —          —          22,867  
Spot Advertising - National
     11,956        —          —          11,956  
Spot Advertising - Local
     38,467        —          —          38,467  
Infomercials
     1,091        —          —          1,091  
Network
     13,923        —          —          13,923  
Digital Advertising
     8,558        15,136        290        23,984  
Digital Streaming
     557        2,947        —          3,504  
Digital Downloads and eBooks
     —          4,196        1,232        5,428  
Subscriptions
     825        6,076        581        7,482  
Book Sales and
e-commerce,
net of estimated sales returns and allowances
     294        468        9,342        10,104  
Self-Publishing Fees
     —          —          4,258        4,258  
Print Advertising
     25        —          474        499  
Other Revenues
     7,774        526        885        9,185  
  
 
 
    
 
 
    
 
 
    
 
 
 
  
$
142,854
 
  
$
29,349
 
  
$
17,062
 
  
$
189,265
 
  
 
 
    
 
 
    
 
 
    
 
 
 
Timing of Revenue Recognition
           
Point in Time
  
$
141,161     
$
29,301     
$
17,062     
$
187,524  
Rental Income (1)
     1,693        48        —          1,741  
  
 
 
    
 
 
    
 
 
    
 
 
 
  
$
142,854
 
  
$
29,349
 
  
$
17,062
 
  
$
189,265