As far as the political and legal elements are worried, the whole film market is affected by the danger of piracy which might possibly produce an unfavorable influence on the total profits of the movie industry. Having said that, copyright laws provide security to the movie industry in terms of preventing piracy.
While the political and legal environment uses security to movie makers, globalization and development of technological elements have increased legal challenges such as ease of piracy and breaking copyright rights.
It needs to be noted that motion pictures become part of the entertainment industry while expenditure on any type of home entertainment is generally an optional expenditure which is more or a high-end instead of a necessity. We look at the contrast of the GDP pattern with the trend in demand 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 particular home entertainment.
As far as the social-cultural elements are worried, it must be noted that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a lot of variety when it comes to opting for a particular segment. Furthermore with bulk of the viewers being college or university students with an average family earnings of $70,000, the acquiring power of the target audience reveals possibilities of increasing viewership.
With aspects such as 'parents revealing an interest in their children's option of home entertainment' and 'higher buying power in homes' due to both parents contributing towards the household earnings, we can see that the home entertainment organisation has a lot of capacity for industry gamers.
While technological elements have actually contributed towards reducing the expense of home entertainment with the intro of multimedia, truth based entertainment, house theatres, cable television networks, the pressure on theatres has increased in regard to making the theatre experience richer for customers in order to make it more appealing than seeing movies in your home. In addition, while innovations have actually contributed towards the risk of 'piracy' they have likewise contributed towards ease of keeping and distributing films.