After the markets closed on Monday, RealD released monthly box office receipts for March. Taken in conjunction with January and February receipts, RealD delivered total quarterly box office receipts of $499 million, roughly in line with our estimate of $491 million.
RealD released monthly attributable cinema box office receipts for March after the markets closed on April 14. Global box office receipts for the month were $202 million, and box office receipts for the full quarter were $499 million.
Based on the six-quarter historical licensing revenue multiplier range, we believe fiscal fourth-quarter licensing revenue will likely fall between $21.6 million and $26.7 million. RealD’s reported box office receipts for the fiscal fourth quarter totaled $499 million.
However, the applicable receipts-to-revenue multiplier can be somewhat volatile, with the true multiplier for the domestic market ranging between 3.45% and 4.78% in the last six quarters and the multiplier in international markets ranging between 5.04% and 5.81%.