Television Distribution Rights
|12 Months Ended|
Jan. 29, 2022
|Television Distribution Rights|
|Television Broadcast Rights||
(4) Television Broadcast Rights
Television broadcast rights in the accompanying consolidated balance sheets consisted of the following:
During fiscal 2021 and 2020, the Company entered into certain affiliation agreements with television service providers for carriage of the Company’s television programming over their systems, including the rights for channel placements. These rights provide the Company with a channel position on the service provider's channel line-up, or television broadcast rights. The Company recorded additional television broadcast rights of $102,545 and $43,655 during fiscal 2021 and fiscal 2020, which represents the present value of payments for the television broadcast rights. Television broadcast rights are amortized on a straight-line basis over the lives of the individual agreements. The remaining weighted average lives of the television broadcast rights was 4.4 years and 1.4 years as of January 29, 2022, and January 30, 2021. Amortization expense related to the television broadcast rights was $26,956 for fiscal 2021 and $16,902 for fiscal 2020 and is included in depreciation and amortization within the consolidated statements of operations.
The table below presents the estimated future amortization expense of television broadcast rights as of January 29, 2022, by fiscal year:
The liability relating to the television broadcast rights was $113,189 and $36,530 as of January 29, 2022, and January 30, 2021, of which $31,921 and $29,173 was classified as current in the accompanying consolidated balance sheets. The long-term portion of the obligations is included in other long-term liabilities within the accompanying consolidated balance sheets. Interest expense related to the television broadcast rights obligation was $3,081 during fiscal 2021 and $1,443 during fiscal 2020.
In addition to the broadcast rights, the Company's affiliation agreements generally provide that it will pay each operator a monthly access fee, most often based on the number of homes receiving the Company's programming, and in some cases marketing support payments. Monthly access fees are expensed as distribution and selling expense within the consolidated statement of operations. See Note 16 – “Commitments and Contingencies” for additional information regarding the Company’s cable and satellite distribution agreements.
Disclosure for affiliation agreements with cable and satellite television providers for carriage of the company's service, as well as for certain channel placement.
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