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Financial report summary
?Management Discussion
- The Company is an entertainment company, which develops, produces, and licenses for distribution, domestically and internationally, an episodic television series entitled The Chosen. The Company collaborates with partners to market, source, curate and distribute the Series to targeted audiences through (i) existing and emerging digital home entertainment platforms, including but not limited to Netflix, Hulu, Prime Video, and most VOD streaming platforms, as well as (ii) physical media, including DVD and Blu-ray Discs, (iii) linear television, (iv) theatrical distribution of certain episodes or other content, (v) books, and (vi) merchandise.
- The Company’s revenue model primarily includes royalties received from the licensing of The Chosen as well as online store and wholesale sales of The Chosen physical media products, merchandise, and contributions. Our marketing efforts include limited and strategically focused distribution and marketing campaigns through targeted TV, streaming, and social media campaigns.
- Licensed content and merchandise revenues include payments received, principally via royalties, from our licensing agreements and merchandise sales. Licensed content and merchandise revenues for the year ended December 31, 2023 increased $24,053 thousand, or 86%, as compared to the year ended December 31, 2022, primarily due to the Company’s shift from managing licensing, distribution, and merchandise sales through our licensing agreement with Angel Studios to managing these functions internally as of October 2022, and the subsequent addition of new distribution channels, with an increase in merchandise sales of $20,917 thousand and an increase in Licensed content revenue of $2,267 thousand.