As far as the legal and political elements are worried, the whole film market is impacted by the risk of piracy which might possibly produce a negative effect on the total earnings of the film market. Having stated that, copyright laws use security to the film market in regards to discouraging piracy.
While the legal and political environment offers defense to film makers, globalization and development of technological elements have actually increased legal difficulties such as ease of piracy and breaking intellectual property rights.
It must be noted that films become part of the entertainment industry while expense on any kind of home entertainment is basically an optional expenditure which is more or a high-end rather than a requirement. We look at the contrast of the GDP trend with the pattern in demand 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 change in this particular entertainment.
As far as the social-cultural elements are worried, it should be noted that the 70% of IMAX audiences are in between the ages of 19 and 56 which permits a lot of diversity when it concerns going with a specific section. Additionally with bulk of the viewers being college or university students with an average household earnings of $70,000, the acquiring 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 entertainment' and 'higher buying power in households' due to both parents contributing towards the family income, we can see that the entertainment organisation has a lot of potential for market gamers.
While technological factors have contributed towards decreasing the expense of entertainment with the intro of multimedia, reality based entertainment, house theatres, cable television networks, the pressure on theatres has increased in regard to making the theatre experience richer for customers in order to make it more attractive than seeing films in your home. Additionally, while developments have contributed towards the risk of 'piracy' they have also contributed towards ease of keeping and dispersing movies.