As far as the political and legal elements are concerned, the whole movie industry is affected by the threat of piracy which could possibly bring about an unfavorable influence on the overall income of the film market. Having said that, copyright laws provide security to the movie industry in regards to discouraging piracy.
While the legal and political environment uses defense to film makers, globalization and improvement of technological factors have increased legal challenges such as ease of piracy and breaking intellectual property rights.
It must be kept in mind that motion pictures become part of the show business while expense on any form of home entertainment is essentially an optional cost which is more or a luxury rather than a necessity. We look at the contrast of the GDP pattern with the trend in demand for movies, we can see that the two are not directly proportional recommending that any modification in GDP development does not necessarily bring about a modification in this particular entertainment.
As far as the social-cultural aspects are worried, it ought to be kept in mind that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a great deal of diversity when it pertains to choosing a particular sector. Furthermore with majority of the audiences being college or university students with an average family earnings of $70,000, the purchasing power of the target audience shows possibilities of increasing viewership.
With elements such as 'parents revealing an interest in their kids's choice of entertainment' and 'greater purchasing power in families' due to both parents contributing towards the home income, we can see that the entertainment service has a lot of potential for industry gamers.
While technological elements have contributed towards lowering the cost of entertainment with the introduction of multimedia, truth based entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in term of making the theatre experience richer for customers in order to make it more attractive than viewing movies in your home. In addition, while developments have actually contributed towards the risk of 'piracy' they have likewise contributed towards ease of keeping and distributing movies.