Program Rights

9 Months Ended

Sep. 30, 2022

Total capitalized produced and licensed content by predominant monetization strategy is as follows:


	September 30, 2022
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	299,048	$	431,416	$	730,464
In-production and in-development	62,711		349,453		412,164
Total owned original program rights, net	$	361,759	$	780,869	$	1,142,628

Licensed program rights, net:
Licensed film and acquired series	$	3,646	$	573,355	$	577,001
Licensed originals	77,466		207,016		284,482
Advances and content versioning costs	—		118,756		118,756
Total licensed program rights, net	81,112		899,127		980,239
Program rights, net	$	442,871	$	1,679,996	$	2,122,867

Current portion of program rights, net					$	13,325
Program rights, net (long-term)					2,109,542
					$	2,122,867


	December 31, 2021
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	185,228	$	127,470	$	312,698
In-production and in-development	161,881		264,927		426,808
Total owned original program rights, net	$	347,109	$	392,397	$	739,506

Licensed program rights, net:
Licensed film and acquired series	$	7,005	$	620,935	$	627,940
Licensed originals	61,923		148,063		209,986
Advances and content versioning costs	57,278		107,196		164,474
Total licensed program rights, net	126,206		876,194		1,002,400
Program rights, net	$	473,315	$	1,268,591	$	1,741,906

Current portion of program rights, net					$	10,068
Program rights, net (long-term)					1,731,838
					$	1,741,906

Amortization of owned and licensed program rights, included in Technical and operating expenses in the condensed consolidated statements of income, is as follows:


	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	33,728	$	35,534	$	69,262	$	128,072	$	82,850	$	210,922
Licensed program rights	12,597		131,350		143,947		29,838		369,339		399,177
Program rights amortization	$	46,325	$	166,884	$	213,209	$	157,910	$	452,189	$	610,099


	Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	112,620	$	12,912	$	125,532	$	197,447	$	25,049	$	222,496
Licensed program rights	19,579		123,181		142,760		65,464		313,680		379,144
Program rights amortization	$	132,199	$	136,093	$	268,292	$	262,911	$	338,729	$	601,640

For programming rights predominantly monetized individually or as a group, the Company periodically reviews the programming usefulness of licensed and owned original program rights based on several factors, including expected future revenue generation from airings on the Company's networks and streaming services and other exploitation opportunities, ratings, type and quality of program material, standards and practices, and fitness for exhibition through various forms of distribution. If events or changes in circumstances indicate that the fair value of a film predominantly monetized individually or a film group is less than its unamortized cost, the Company will write off the excess to technical and operating expenses in the consolidated statements of income. Program rights with no future programming usefulness are substantively abandoned resulting in the write-off of remaining unamortized cost. There were no significant program rights write-offs included in technical and operating expense for the three and nine months ended September 30, 2022 or 2021.