As far as the legal and political elements are worried, the entire film market is affected by the danger of piracy which might possibly produce an unfavorable effect on the overall revenue of the film industry. Having stated that, copyright laws provide security to the movie industry in terms of preventing piracy.
While the political and legal environment provides 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 must be kept in mind that movies become part of the entertainment industry while expenditure on any form of home entertainment is essentially an optional expense which is more or a high-end instead of a need. We look at the comparison of the GDP trend with the trend in demand for motion pictures, we can see that the 2 are not directly proportional recommending that any modification in GDP growth does not always bring about a change in this specific entertainment.
As far as the social-cultural elements are worried, it must be kept in mind that the 70% of IMAX viewers are between the ages of 19 and 56 which allows a great deal of variety when it pertains to opting for a specific section. Additionally with majority of the viewers being college or university students with an average home income of $70,000, the buying power of the target market shows possibilities of increasing viewership.
With factors such as 'moms and dads revealing an interest in their kids's option of home entertainment' and 'greater buying 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 industry gamers.
While technological elements have actually contributed towards lowering the expense of home entertainment with the introduction of multimedia, reality based entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in regard to making the theatre experience richer for consumers in order to make it more appealing than viewing motion pictures in your home. Additionally, while innovations have actually contributed towards the threat of 'piracy' they have actually likewise contributed towards ease of keeping and dispersing films.