As far as the legal and political aspects are worried, the whole movie market is affected by the hazard of piracy which might possibly bring about a negative impact on the general earnings of the film industry. Having said that, copyright laws provide defense to the movie market in terms of dissuading piracy.
While the legal and political environment uses security to film makers, globalization and improvement of technological aspects have actually increased legal challenges such as ease of piracy and breaching copyright rights.
It should be kept in mind that motion pictures belong to the entertainment industry while expense on any form of home entertainment is generally an optional expense which is more or a luxury instead of a need. Nevertheless, we look at the comparison of the GDP trend with the trend in demand for motion pictures, we can see that the two are not straight proportional recommending that any change in GDP growth does not necessarily produce a modification in this particular entertainment.
As far as the social-cultural factors are concerned, it must be kept in mind that the 70% of IMAX audiences are in between the ages of 19 and 56 which enables a great deal of variety when it concerns selecting a particular segment. Additionally with majority of the audiences being college or university students with a typical family earnings of $70,000, the purchasing power of the target audience reveals possibilities of increasing viewership.
With elements such as 'moms and dads revealing an interest in their children's choice of entertainment' and 'greater buying power in families' due to both parents contributing towards the household earnings, we can see that the home entertainment business has a great deal of potential for market gamers.
While technological factors have actually contributed towards lowering the expense of entertainment with the intro of multimedia, reality based entertainment, home theatres, cable 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 movies in the house. Furthermore, while developments have actually contributed towards the danger of 'piracy' they have actually likewise contributed towards ease of storing and dispersing movies.