ROKU INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
6. Content Assets
- CONTENT ASSETS
Content assets, net consisted of the following (in thousands):
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Licensed content, net and advances | $152,851 | $148,777 |
| Produced content: | ||
| Released, less amortization | 65,990 | 77,951 |
| Completed, not released | 23,267 | 11,235 |
| In production | 7,565 | 38,275 |
| Total produced content, net | 96,822 | 127,461 |
| Total Content assets, net and advances | $249,673 | $276,238 |
| Current portion (included in Prepaid expenses and other current assets) | $12,352 | $18,843 |
| Non-current portion | $237,321 | $257,395 |
Amortization of content assets is included in Cost of revenue, platform in the consolidated statements of operations and is as follows (in thousands):
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Licensed content | $161,194 | $161,633 | $216,393 |
| Produced content | 45,181 | 46,219 | 17,962 |
| Total amortization costs | $206,375 | $207,852 | $234,355 |
During the year ended December 31, 2024, the Company wrote-off $23.0 million of unamortized costs related to content assets that were removed from the content library on The Roku Channel. There were no write-offs for the years ended December 31, 2023 and 2022.
During the year ended December 31, 2023, the Company recognized an impairment charge of $65.5 million related to removing select licensed and produced content from The Roku Channel as part of its restructuring efforts. See Note 17 for additional details. The Company didnot recognize any impairment of content assets during the years ended December 31, 2024 and December 31, 2022.
The following table reflects the expected amortization costs of released licensed and produced content assets, net for the next three years (in thousands):
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2026 | 2027 | |
| Licensed content | $86,962 | $33,890 | $13,020 |
| Produced content | 33,629 | 22,224 | 15,894 |
| Total expected amortization costs | $120,591 | $56,114 | $28,914 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.