Revenue from Contracts with Customers
The following tables summarize subscription revenue and advertising revenue by region (in thousands):
Subscription
Years Ended December 31,
202420232022
United States and Canada (North America)$1,466,242 $1,217,905 $882,679 
Rest of world33,859 31,674 23,207 
Total subscription revenues$1,500,101 $1,249,579 $905,886 
Advertising
Years Ended December 31,
202420232022
United States and Canada (North America)$114,023 $114,247 $100,605 
Rest of world1,177 1,123 1,134 
Total advertising revenues$115,200 $115,370 $101,739 
Contract balances
For the years ended December 31, 2024, 2023, and 2022, the Company did not recognize material bad-debt expense and there were no material contract assets recorded on the accompanying consolidated balance sheet as of December 31, 2024 and 2023.
The contract liabilities primarily relate to upfront payments and consideration received from customers for subscription services. As of December 31, 2024 and 2023, the Company’s contract liabilities totaled $98.4 million and $90.2 million, respectively, and are recorded as deferred revenue on the accompanying consolidated balance sheets.
Transaction price allocated to remaining performance obligations
The Company does not disclose the transaction price allocated to remaining performance obligations since subscription and advertising contracts have an original expected term of one year or less.

Historical Timeline

Fiscal YearFiled
2024Mar 3, 2025Showing above
2023Mar 5, 2024
2022Feb 27, 2023
2021Mar 1, 2022
2020Mar 25, 2021

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.