As far as the political and legal aspects are worried, the entire movie market is affected by the hazard of piracy which could potentially cause an unfavorable effect on the overall earnings of the movie industry. Having said that, copyright laws use security to the film market in terms of preventing piracy.
While the legal and political environment provides protection to movie makers, globalization and improvement of technological aspects have actually increased legal difficulties such as ease of piracy and breaching intellectual property rights.
It must be noted that motion pictures become part of the show business while expense on any type of home entertainment is generally an optional expense which is more or a luxury instead of a requirement. We look at the comparison of the GDP pattern with the pattern in need for movies, we can see that the 2 are not directly proportional recommending that any modification in GDP development does not always bring about a change in this particular home entertainment.
As far as the social-cultural aspects are concerned, it must be noted that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a lot of diversity when it pertains to selecting a specific section. Additionally with bulk of the audiences being college or university students with a typical home income of $70,000, the purchasing power of the target audience reveals possibilities of increasing viewership.
With factors such as 'moms and dads showing an interest in their kids's choice of entertainment' and 'greater buying power in homes' due to both moms and dads contributing towards the home income, we can see that the home entertainment company has a lot of potential for industry players.
While technological aspects have contributed towards decreasing the cost of home entertainment with the introduction of multimedia, truth 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 attractive than viewing films in the house. In addition, while innovations have actually contributed towards the danger of 'piracy' they have actually also contributed towards ease of saving and distributing films.