As far as the political and legal factors are worried, the whole movie industry is affected by the risk of piracy which could potentially produce a negative influence on the overall revenue of the movie market. Having said that, copyright laws provide security to the film industry in regards to discouraging piracy.
While the political and legal environment offers protection to film makers, globalization and development of technological elements have actually increased legal challenges such as ease of piracy and violating copyright rights.
It needs to be noted that movies are part of the show business while expense on any form of entertainment is generally an optional expenditure which is more or a high-end instead of a requirement. Nevertheless, we take a look at the comparison of the GDP pattern with the trend in demand for movies, we can see that the two are not straight proportional recommending that any modification in GDP development does not necessarily cause a modification in this particular entertainment.
As far as the social-cultural aspects are worried, it needs to be noted that the 70% of IMAX audiences are in between the ages of 19 and 56 which enables a great deal of variety when it concerns opting for a specific sector. Furthermore with bulk of the audiences being college or university students with an average family income 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 'greater buying power in households' due to both parents contributing towards the family earnings, we can see that the home entertainment organisation has a lot of capacity for industry gamers.
While technological factors have actually contributed towards lowering the expense of home entertainment with the intro of multimedia, reality based home entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in term of making the theatre experience richer for consumers in order to make it more appealing than watching motion pictures at home. Furthermore, while developments have actually contributed towards the threat of 'piracy' they have actually likewise contributed towards ease of saving and distributing films.