As far as the political and legal factors are worried, the whole film market is impacted by the risk of piracy which could possibly cause an unfavorable influence on the general income of the film market. Having said that, copyright laws use defense to the film industry in regards to discouraging piracy.
While the legal and political environment offers protection to film makers, globalization and advancement of technological elements have actually increased legal obstacles such as ease of piracy and violating copyright rights.
It must be kept in mind that motion pictures are part of the show business while expense on any form of entertainment is generally an optional cost which is more or a high-end rather than a need. We look at the contrast of the GDP trend with the trend in need for films, we can see that the two are not straight proportional recommending that any change in GDP development does not always bring about a modification in this specific home entertainment.
As far as the social-cultural elements are concerned, it must be kept in mind that the 70% of IMAX viewers are in between the ages of 19 and 56 which enables a lot of variety when it pertains to selecting a specific sector. In addition with bulk of the audiences being college or university students with a typical home income of $70,000, the acquiring power of the target market shows possibilities of increasing viewership.
With aspects such as 'moms and dads revealing an interest in their kids's option of entertainment' and 'greater purchasing power in households' due to both moms and dads contributing towards the home earnings, we can see that the entertainment organisation has a great deal of potential for industry players.
While technological aspects have contributed towards reducing the cost of entertainment with the intro of multimedia, reality based home entertainment, house theatres, cable television networks, the pressure on theatres has increased in term of making the theatre experience richer for customers in order to make it more attractive than viewing films at home. Furthermore, while developments have actually contributed towards the danger of 'piracy' they have also contributed towards ease of storing and distributing movies.