Note 6 - Licensing Agreements and Deferred Revenue

6 Months Ended

Jun. 30, 2011

Significant Accounting Policies [Text Block]

Note 6.  Licensing Agreements and Deferred Revenue

The Company is a party to various contracts by virtue of its relationship with certain talent.  The various contracts contain terms and conditions which require the revenue and the associated talent cost to be recognized on a straight-line basis over the contract period.  The Company has also entered into product licensing agreements with talent it represents.  Under the product licensing agreements, the Company will either earn a commission based on a certain percentage of the royalties earned by the talent or earn royalties from the licensee that is based on a certain percentage of net sales, as defined.  The Company recognized revenue from product licensing agreements of approximately $156,000 and $425,000 for the three and six months ended June 30, 2011, respectively, and approximately $168,000 and $312,000 and for the three and six months ended June 30, 2010, respectively.