As far as the political and legal factors are concerned, the entire film industry is impacted by the threat of piracy which might possibly produce a negative impact on the total earnings of the movie market. Having stated that, copyright laws provide protection to the film industry in terms of dissuading piracy.
While the political and legal environment provides security to film makers, globalization and improvement of technological factors have actually increased legal challenges such as ease of piracy and breaching intellectual property rights.
It ought to be kept in mind that motion pictures belong to the show business while expense on any kind of home entertainment is essentially an optional expense which is more or a high-end rather than a necessity. However, we take a look at the comparison of the GDP trend with the trend in demand for motion pictures, we can see that the two are not straight proportional suggesting that any change in GDP development does not always produce a change in this particular entertainment.
As far as the social-cultural aspects are worried, it must be noted that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a great deal of diversity when it pertains to opting for a particular segment. Furthermore with bulk of the viewers being college or university students with a typical household earnings of $70,000, the buying power of the target audience reveals possibilities of increasing viewership.
With factors such as 'parents revealing an interest in their kids's option of entertainment' and 'greater buying power in homes' due to both parents contributing towards the household income, we can see that the home entertainment organisation has a great deal of potential for market gamers.
While technological aspects have actually contributed towards reducing the expense of entertainment with the introduction of multimedia, truth based home entertainment, home theatres, cable 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 at home. In addition, while innovations have actually contributed towards the risk of 'piracy' they have actually also contributed towards ease of saving and distributing films.