As far as the legal and political elements are worried, the whole movie industry is impacted by the hazard of piracy which might potentially cause an unfavorable impact on the general revenue of the movie industry. Having said that, copyright laws provide protection to the film industry in terms of preventing piracy.
While the political and legal environment provides security to movie makers, globalization and development of technological elements have actually increased legal challenges such as ease of piracy and breaching copyright rights.
It should be kept in mind that movies become part of the show business while expense on any type of home entertainment is generally an optional expenditure which is more or a high-end rather than a need. However, we look at the contrast of the GDP pattern with the pattern in demand for movies, we can see that the two are not directly proportional recommending that any modification in GDP development does not necessarily cause a modification in this specific entertainment.
As far as the social-cultural elements are worried, it needs to be kept in mind that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a lot of diversity when it comes to choosing a particular segment. Furthermore with majority of the viewers being college or university students with a typical home earnings of $70,000, the acquiring power of the target audience shows possibilities of increasing viewership.
With factors such as 'moms and dads revealing an interest in their children's choice of entertainment' and 'higher purchasing power in families' due to both moms and dads contributing towards the household income, we can see that the home entertainment business has a lot of potential for market gamers.
While technological aspects have actually contributed towards lowering the cost of home entertainment with the introduction of multimedia, truth based entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for customers in order to make it more appealing than viewing films in your home. Additionally, while developments have contributed towards the hazard of 'piracy' they have actually likewise contributed towards ease of storing and dispersing movies.