Reviving “Community” has been a costly adventure for Yahoo — and might spell the end of its foray into big-budget original series.
CFO Ken Goldman revealed during Yahoo’s third-quarter earnings call Tuesday that the company took a $42 million charge on “Community” and two other original series as it couldn’t effectively monetize the programming.
Yahoo recorded a $42 million impairment charge in Q3 on the value of its video assets, and Goldman specifically singled out “Community,” as well as original shows “Sin City Saints” and “Other Space,” when asked what went wrong. Writing off the cost of the shows — $41.699 million to be precise, according to Yahoo’s financial statements — removes them from the balance sheet so they won’t be amortized over time.
“We thought long and hard about it, and what we concluded is (for) certain of our original video (series), we couldn’t see a way to make money over time,” he said.
CFO Ken Goldman revealed during Yahoo’s third-quarter earnings call Tuesday that the company took a $42 million charge on “Community” and two other original series as it couldn’t effectively monetize the programming.
Yahoo recorded a $42 million impairment charge in Q3 on the value of its video assets, and Goldman specifically singled out “Community,” as well as original shows “Sin City Saints” and “Other Space,” when asked what went wrong. Writing off the cost of the shows — $41.699 million to be precise, according to Yahoo’s financial statements — removes them from the balance sheet so they won’t be amortized over time.
“We thought long and hard about it, and what we concluded is (for) certain of our original video (series), we couldn’t see a way to make money over time,” he said.
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