Hi Scooters,Hoping you could give me a definition in laymans...

Hi Scooters,

Hoping you could give me a definition in laymans terms on this-

" Payments made or liabilities assumed for the acquisition of film distribution rights, where the rights include
theatrical and other rights such as DVD and digital, are capitalised at the cost of the commitment to the licensor
plus other directly attributable costs. Amounts paid or payable to licensors are amortised over the lesser of ten
years and the term of the contract, with proportionately higher amortisation charges in early years so as to
correlate amortisation with the timing of the expected net economic return. Other directly attributable costs are
written off at the initial theatrical release and DVD launch stages. Carrying amounts are reviewed for impairment
at balance dates and are written down to recoverable amount if necessary."

Thanks in advance

Oscar