How the new revenue standard affects media and entertainment entities

| August 16, 2019

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Many media and entertainment entities have had to change their accounting for licenses of intellectual property (IP) because, under the standard, entities can only recognize revenue for a license of IP when the customer has a copy of the IP and can use and benefit from it. The standard has required media and entertainment entities to exercise more judgment to identify performance obligations, evaluate whether they are acting as a principal or an agent, and measure noncash consideration. The standard has significantly changed the timing of revenue recognition for many media and entertainment entities.

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Nine’s strategy is to create great content, distribute it broadly, and engage audiences and advertisers.As the home of Australia’s most trusted and loved brands spanning News, Sport, Lifestyle and Entertainment, we pride ourselves on creating the best content, accessed by consumers when and how they want, while celebrating our ability to give the shared experiences to audiences, the ones that connect us together.Our business operates in the following four divisions: Australian Community Media & Printing and Stuff; Publishing (including Metro Mastheads, Nine Digital and Events); Stan; and Television.

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