# ASC 350-920-25: Intangibles—Goodwill and Other — Entertainment—Broadcasters — 25 Recognition

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/350/920/#25-recognition)

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## ASC 350-920-25: 25 Recognition

[Read section](https://asc.understandingaccounting.org/asc/350/920/#25-recognition)

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#### License Agreements for Program Material—Exhibition Rights

##### [350-920-25-1](https://asc.understandingaccounting.org/asc/350/920/#350-920-25-1)

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A [broadcaster](https://asc.understandingaccounting.org/glossary/b/#broadcaster "An entity or an affiliated group of entities that transmits radio or television program material.") (licensee) shall account for a [license agreement](https://asc.understandingaccounting.org/glossary/l/#license-agreement "A typical license agreement for program material (for example, features, specials, series, or cartoons) covers several programs (a package) and grants a television station, group of stations, network, pay television, or cable television system (licensee) the right to broadcast either a specified number or an unlimited number of showings over a maximum period of time (license period) for a specified fee.") for program material and any exhibition right(s) acquired under a license agreement for program material as a purchase of a right or group of rights.

##### [350-920-25-2](https://asc.understandingaccounting.org/asc/350/920/#350-920-25-2)

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A licensee shall report an asset and a liability for the rights acquired and obligations incurred under a license agreement when the license period begins and all of the following conditions have been met:

1.  a
    
    The cost of each program is known or reasonably determinable.
    
2.  b
    
    The program material has been accepted by the licensee in accordance with the conditions of the license agreement.
    
3.  c
    
    The program is available for its first showing or telecast. Except when a conflicting license prevents usage by the licensee, restrictions under the same license agreement or another license agreement with the same licensor on the timing of subsequent showings shall not affect this availability condition.