As far as the legal and political factors are worried, the whole film industry is impacted by the threat of piracy which might possibly bring about a negative influence on the overall income of the movie market. Having stated that, copyright laws use protection to the film market in regards to discouraging piracy.
While the legal and political environment uses security to movie makers, globalization and development of technological factors have actually increased legal obstacles such as ease of piracy and violating intellectual property rights.
It needs to be kept in mind that motion pictures are part of the entertainment industry while expenditure on any form of home entertainment is basically an optional cost which is more or a luxury instead of a requirement. However, we look at the comparison of the GDP trend with the trend in demand for motion pictures, we can see that the two are not directly proportional recommending that any change in GDP development does not always bring about a change in this specific home entertainment.
As far as the social-cultural aspects are worried, it must be noted that the 70% of IMAX viewers are in between the ages of 19 and 56 which enables a great deal of diversity when it comes to going with a specific sector. Furthermore with majority of the audiences being college or university students with an average family income of $70,000, the acquiring power of the target market reveals possibilities of increasing viewership.
With elements such as 'moms and dads revealing an interest in their children's option of entertainment' and 'greater buying power in households' due to both parents contributing towards the family earnings, we can see that the entertainment company has a lot of capacity for industry players.
While technological aspects have actually contributed towards lowering the expense of entertainment with the introduction of multimedia, truth based home entertainment, house theatres, cable 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 watching movies in your home. Additionally, while developments have contributed towards the threat of 'piracy' they have actually likewise contributed towards ease of keeping and distributing films.