Revenue

3 Months Ended

Jun. 30, 2023

Revenue [Abstract]

Revenue

Note 3 — Revenue

The following table represents a disaggregation of revenue from contracts with customers for the three months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,
	2023		2022
Revenue
Membership Services	$	15,212	$	12,082
Advertising		10,783		8,942
Merchandising		1,740		1,849
Sponsorship and Licensing		29		114
Ticket/Event		3		235
Total Revenue	$	27,767	$	23,222

For some contracts, the Company may invoice up front for services recognized over time or for contracts in which the Company has unsatisfied performance obligations. Payment terms and conditions vary by contract type, although terms generally cover monthly payments. In the circumstances where the timing of invoicing differs from the timing of revenue recognition, the Company has determined its contracts do not include a significant financing component. The Company has elected to apply the practical expedient under ASC 606-10-50-14 and not provide disclosure of the amount and timing of performance obligations as the performance obligations are part of a contract that has an original expected duration of one year or less.

For the three months ended June 30, 2023 and 2022, one customer accounted for 48% and 43%, and a second customer accounted for none and 48% of the Company’s consolidated revenues, respectively.

The following table summarizes the significant changes in the deferred revenue balances during the three months ended June 30, 2023 (in thousands):

	Contract Liabilities
Balance as of March 31, 2023	$	992
Revenue recognized that was included in the contract liability at beginning of period		(392	)
Increase due to cash received, excluding amounts recognized as revenue during the period		368
Balance as of June 30, 2023	$	968