As far as the legal and political aspects are worried, the entire movie market is affected by the risk of piracy which might possibly bring about a negative influence on the total revenue of the film industry. Having said that, copyright laws offer protection to the movie industry in terms of discouraging piracy.
While the legal and political environment offers defense to film makers, globalization and advancement of technological elements have increased legal obstacles such as ease of piracy and violating intellectual property rights.
It must be kept in mind that films are part of the entertainment industry while expenditure on any type of home entertainment is basically an optional cost which is more or a high-end instead of a requirement. We look at the comparison of the GDP trend with the pattern in need for motion pictures, we can see that the two are not straight 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 aspects are worried, it should be noted that the 70% of IMAX viewers are between the ages of 19 and 56 which enables a lot of diversity when it pertains to selecting a particular section. Furthermore with majority of the audiences being college or university students with a typical family income of $70,000, the acquiring power of the target market shows possibilities of increasing viewership.
With elements such as 'parents revealing an interest in their kids's choice of entertainment' and 'higher buying power in households' due to both moms and dads contributing towards the family earnings, we can see that the home entertainment organisation has a great deal of capacity for industry players.
While technological elements have contributed towards lowering the expense of home entertainment with the intro of multimedia, reality based entertainment, house theatres, cable television networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for consumers in order to make it more appealing than watching motion pictures in your home. Additionally, while developments have actually contributed towards the hazard of 'piracy' they have also contributed towards ease of keeping and distributing films.