Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue      
Advertising $ 1,074,927 $ 1,072,490 $ 933,305
Subscription and other 315,853 225,786 220,571
Ticketing service 76,032 86,550 10,167
Total revenue 1,466,812 1,384,826 1,164,043
Cost of revenue      
Cost of revenue—Content acquisition costs 804,032 734,353 610,362
Cost of revenue—Other 112,638 102,717 79,972
Cost of revenue—Ticketing service 50,397 59,280 7,121
Total cost of revenue 967,067 896,350 697,455
Gross profit 499,745 488,476 466,588
Operating expenses      
Product development 154,325 140,707 84,135
Sales and marketing 492,542 490,364 397,842
General and administrative 190,711 176,164 154,602
Goodwill impairment 131,997 0 0
Contract termination fees 23,044 0 0
Total operating expenses 992,619 807,235 636,579
Loss from operations (492,874) (318,759) (169,991)
Interest expense (29,335) (26,144) (1,976)
Other income, net 3,024 1,697 756
Total other expense, net (26,311) (24,447) (1,220)
Loss before benefit from income taxes (519,185) (343,206) (171,211)
Benefit from income taxes 790 228 1,550
Net loss (518,395) (342,978) (169,661)
Net loss available to common stockholders $ (558,561) $ (342,978) $ (169,661)
Basic and diluted net loss per common share (in dollars per share) $ (2.29) $ (1.49) $ (0.79)
Weighted-average common shares outstanding used in computing basic and diluted net loss per share (in shares) 243,637 230,693 213,790