No all the deferred revenue has not ended up as revenue. They can keep it in deferred revenue liability and avoid having to pay back the advance plus the cancellation rate of 24% by swapping in another customer and the clock starts again for the original advance. That is why the $20m sponsorship pool was fully utilised rather than being replenished.
It doesn’t matter that no one accepts until they’ve fully utilised the $20m advanced from FCC and then FCc say ENOUGH and fund no more.
They need acceptances to rise so And customers to actually pay so
1) so they earn revenue and
2) so the pool can be replenished and they are advanced more funds so they can make more vids to swap in for others who have declined earlier so they don’t need to repay FCC.
The acceptances need to be at a high enough rate now the pool is utilised to replenish pool at a fast enough rate to keep making vids and swapping in for earlier declined customers.
I believe you know all this and are being disingenuous.
No all the deferred revenue has not ended up as revenue. They...
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