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Netflix notes FASB 63 Broadcast Rights in its financial reports, but Google "ASC 920", which is the FASB codification for Entertainment - Broadcasters, and you'll find specific information regarding GAAP guidance on this issue. Here is an example that I think you'll find helpful:

After reading the above, I think you'll see that there's really no need to say it's "like op lease debt" or "like inventory" - both are true, but not totally useful, which is why acquired programming rights have their own FASB pronouncements.

Unless you've worked for a big corp in accounting, you probably aren't aware that corps have their own Regulatory Accounting and Tax Accounting staff. (This whole discussion has made me fondly remember a friend who was the head of Reg at a tech company I worked for back in the '80s - attained the highest CPA score for CA the year he sat and scored 71st in the nation.) Basically, they decide how things get booked, often after reaching consensus with the corp's CPA firm.

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