As far as the legal and political aspects are concerned, the whole movie industry is affected by the threat of piracy which could possibly produce a negative effect on the total income of the film market. Having stated that, copyright laws use defense to the movie market in terms of dissuading piracy.
While the legal and political environment provides security to film makers, globalization and advancement of technological elements have increased legal challenges such as ease of piracy and breaking copyright rights.
It must be noted that motion pictures belong to the entertainment industry while expenditure on any kind of entertainment is basically an optional expenditure which is more or a high-end instead of a need. We look at the contrast of the GDP pattern with the trend in need for motion pictures, we can see that the two are not straight proportional recommending that any change in GDP development does not always bring about a change in this specific 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 concerns going with a specific section. Additionally with majority of the audiences being college or university students with an average family income of $70,000, the acquiring power of the target market shows possibilities of increasing viewership.
With aspects such as 'moms and dads showing an interest in their children's option of entertainment' and 'greater buying power in households' due to both moms and dads contributing towards the household earnings, we can see that the entertainment organisation has a lot of potential for industry players.
While technological elements have contributed towards reducing the expense of entertainment with the intro of multimedia, reality based home entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for customers in order to make it more attractive than seeing motion pictures in the house. In addition, while innovations have actually contributed towards the threat of 'piracy' they have actually likewise contributed towards ease of storing and dispersing movies.