As far as the political and legal elements are worried, the whole film industry is affected by the risk of piracy which might possibly cause a negative effect on the overall profits of the movie market. Having said that, copyright laws provide protection to the movie market in terms of preventing piracy.
While the political and legal environment provides security to film makers, globalization and development of technological aspects have increased legal difficulties such as ease of piracy and breaching intellectual property rights.
It needs to be noted that films belong to the show business while expense on any kind of home entertainment is generally an optional expenditure which is more or a high-end instead of a requirement. We look at the contrast of the GDP pattern with the trend in need for motion pictures, we can see that the 2 are not straight proportional recommending that any change in GDP growth does not always bring about a change in this particular home entertainment.
As far as the social-cultural elements are worried, it ought to be kept in mind that the 70% of IMAX viewers are in between the ages of 19 and 56 which permits a lot of diversity when it comes to selecting a particular segment. Furthermore with bulk of the audiences being college or university students with a typical family income of $70,000, the acquiring power of the target audience reveals possibilities of increasing viewership.
With factors such as 'moms and dads revealing an interest in their kids's option of entertainment' and 'greater purchasing power in families' due to both moms and dads contributing towards the family earnings, we can see that the entertainment business has a lot of capacity for market players.
While technological factors have actually contributed towards reducing 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 consumers in order to make it more attractive than seeing movies at home. Additionally, while developments have contributed towards the hazard of 'piracy' they have actually likewise contributed towards ease of keeping and distributing films.