As far as the political and legal elements are worried, the whole film industry is impacted by the risk of piracy which might possibly produce an unfavorable effect on the overall income of the film industry. Having stated that, copyright laws provide protection to the movie market in regards to dissuading piracy.
While the legal and political environment uses security to movie makers, globalization and improvement of technological factors have increased legal difficulties such as ease of piracy and breaching intellectual property rights.
It should be kept in mind that movies belong to the show business while expenditure on any kind of home entertainment is generally an optional expense which is more or a high-end instead of a necessity. We look at the contrast of the GDP trend with the trend in demand for motion pictures, we can see that the two are not directly proportional suggesting that any modification in GDP growth does not necessarily bring about a change in this particular home entertainment.
As far as the social-cultural elements are worried, it ought to be noted that the 70% of IMAX viewers are between the ages of 19 and 56 which permits a great deal of variety when it comes to going with a particular sector. Additionally with bulk of the viewers being college or university students with a typical household earnings of $70,000, the buying power of the target audience reveals possibilities of increasing viewership.
With aspects such as 'parents revealing an interest in their children's choice of home entertainment' and 'greater purchasing power in households' due to both parents contributing towards the family income, we can see that the entertainment organisation has a great deal of capacity for industry gamers.
While technological elements have actually contributed towards lowering the expense of entertainment with the introduction of multimedia, reality based home entertainment, house theatres, cable television networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for customers in order to make it more appealing than viewing motion pictures at home. Additionally, while innovations have actually contributed towards the hazard of 'piracy' they have likewise contributed towards ease of saving and distributing films.