As far as the legal and political aspects are worried, the whole film industry is impacted by the risk of piracy which might potentially cause a negative impact on the overall income of the movie market. Having stated that, copyright laws provide defense to the film market in regards to dissuading piracy.
While the legal and political environment uses defense to film makers, globalization and improvement of technological factors have increased legal obstacles such as ease of piracy and breaching copyright rights.
It ought to be noted that movies belong to the show business while expense on any kind of home entertainment is essentially an optional expenditure which is more or a luxury instead of a requirement. We look at the comparison of the GDP pattern with the trend in demand for films, we can see that the two are not directly proportional suggesting that any change in GDP development does not necessarily bring about a modification in this particular home entertainment.
As far as the social-cultural factors are concerned, it must be noted that the 70% of IMAX viewers are in between the ages of 19 and 56 which permits a great deal of variety when it concerns selecting a particular section. Furthermore with bulk of the audiences being college or university students with an average household income of $70,000, the acquiring power of the target market reveals possibilities of increasing viewership.
With factors such as 'parents revealing an interest in their children's option of home entertainment' and 'greater buying power in families' due to both parents contributing towards the home earnings, we can see that the entertainment business has a lot of potential for market gamers.
While technological elements have actually contributed towards lowering the cost of home entertainment with the intro of multimedia, reality 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 viewing films at home. In addition, while innovations have contributed towards the danger of 'piracy' they have actually likewise contributed towards ease of storing and dispersing movies.