As far as the legal and political factors are worried, the entire film industry is impacted by the hazard of piracy which might possibly bring about a negative influence on the overall earnings of the movie industry. Having stated that, copyright laws use defense to the movie market in terms of dissuading piracy.
While the political and legal environment uses security to movie makers, globalization and advancement of technological aspects have increased legal challenges such as ease of piracy and violating copyright rights.
It ought to be kept in mind that films become part of the entertainment industry while expenditure on any type of home entertainment is generally an optional expenditure which is more or a luxury rather than a necessity. We look at the contrast of the GDP trend with the pattern in need for motion pictures, we can see that the two are not straight proportional recommending that any change in GDP development does not necessarily bring about a modification in this specific entertainment.
As far as the social-cultural aspects are worried, it should 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 sector. Additionally with majority of the audiences being college or university students with an average home earnings of $70,000, the buying power of the target market shows possibilities of increasing viewership.
With aspects such as 'parents showing an interest in their kids's choice of home entertainment' and 'greater buying power in families' due to both moms and dads contributing towards the family earnings, we can see that the home entertainment company has a great deal of capacity for industry gamers.
While technological factors have contributed towards reducing the expense of home entertainment with the introduction of multimedia, truth based entertainment, home theatres, cable television networks, the pressure on theatres has increased in term of making the theatre experience richer for customers in order to make it more attractive than enjoying films in your home. Additionally, while innovations have actually contributed towards the risk of 'piracy' they have also contributed towards ease of saving and dispersing movies.