As far as the legal and political aspects are worried, the entire film industry is impacted by the danger of piracy which might potentially produce a negative influence on the general profits of the film market. Having stated that, copyright laws provide defense to the movie market in regards to dissuading piracy.
While the legal and political environment offers defense to film makers, globalization and development of technological factors have actually increased legal challenges such as ease of piracy and breaching copyright rights.
It ought to be kept in mind that motion pictures belong to the show business while expense on any form of entertainment is basically an optional cost which is more or a luxury rather than a need. Nevertheless, we take a look at the comparison of the GDP pattern with the trend in demand for motion pictures, we can see that the two are not directly proportional recommending that any change in GDP development does not always cause a modification in this specific entertainment.
As far as the social-cultural aspects are worried, it ought to be noted that the 70% of IMAX audiences are between the ages of 19 and 56 which enables a lot of variety when it concerns opting for a specific sector. In addition with bulk of the audiences being college or university students with a typical home income of $70,000, the acquiring power of the target market shows possibilities of increasing viewership.
With elements such as 'moms and dads showing an interest in their children's choice of home entertainment' and 'greater buying power in households' due to both parents contributing towards the household earnings, we can see that the home entertainment organisation has a lot of potential for market players.
While technological aspects have actually contributed towards reducing the expense of entertainment with the intro of multimedia, truth based entertainment, house theatres, cable networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for consumers in order to make it more appealing than viewing movies at home. In addition, while developments have actually contributed towards the risk of 'piracy' they have also contributed towards ease of storing and distributing films.