As far as the legal and political factors are worried, the entire film market is affected by the threat of piracy which might possibly bring about an unfavorable influence on the general revenue of the film industry. Having said that, copyright laws use defense to the movie market in terms of dissuading piracy.
While the legal and political environment offers defense to film makers, globalization and advancement of technological elements have actually increased legal challenges such as ease of piracy and violating copyright rights.
It needs to be noted that movies belong to the entertainment industry while expenditure on any kind of home entertainment is essentially an optional expense which is more or a high-end rather than a requirement. We look at the contrast of the GDP trend with the pattern in need for films, we can see that the two are not directly proportional suggesting that any modification in GDP development does not always bring about a modification in this specific home entertainment.
As far as the social-cultural factors are worried, it should be kept in mind that the 70% of IMAX audiences are in between the ages of 19 and 56 which enables a lot of diversity when it pertains to opting for a specific segment. Furthermore with bulk of the viewers being college or university students with a typical home income of $70,000, the purchasing power of the target audience reveals possibilities of increasing viewership.
With aspects such as 'moms and dads showing an interest in their kids's choice of home entertainment' and 'higher buying power in households' due to both parents contributing towards the home income, we can see that the home entertainment company has a great deal of potential for market gamers.
While technological elements have actually contributed towards decreasing the cost of entertainment with the introduction of multimedia, reality based home entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in term of making the theatre experience richer for consumers in order to make it more appealing than viewing movies in the house. In addition, while developments have actually contributed towards the danger of 'piracy' they have likewise contributed towards ease of keeping and distributing films.