As far as the political and legal aspects are concerned, the entire film market is impacted by the hazard of piracy which could potentially cause an unfavorable impact on the total revenue of the film industry. Having stated that, copyright laws offer protection to the movie market in terms of dissuading piracy.
While the political and legal environment offers protection to movie makers, globalization and development of technological factors have actually increased legal challenges such as ease of piracy and violating intellectual property rights.
It needs to be kept in mind that films belong to the entertainment industry while expense on any form of entertainment is basically an optional cost which is more or a luxury instead of a need. We look at the contrast of the GDP trend with the pattern in demand for films, we can see that the two are not straight proportional recommending that any modification in GDP development does not always bring about a modification in this specific entertainment.
As far as the social-cultural factors are concerned, it should be kept in mind that the 70% of IMAX viewers are in between the ages of 19 and 56 which permits a lot of diversity when it comes to going with a specific section. In addition with bulk of the audiences being college or university students with an average household income of $70,000, the purchasing power of the target audience shows possibilities of increasing viewership.
With elements such as 'parents revealing an interest in their children's choice of entertainment' and 'greater purchasing power in homes' due to both moms and dads contributing towards the home earnings, we can see that the home entertainment business has a great deal of capacity for industry gamers.
While technological aspects have actually contributed towards reducing the expense of entertainment with the introduction of multimedia, truth based home entertainment, house theatres, cable television networks, the pressure on theatres has actually increased in term of making the theatre experience richer for customers in order to make it more appealing than enjoying motion pictures at home. Additionally, while developments have actually contributed towards the danger of 'piracy' they have actually also contributed towards ease of storing and distributing movies.