As far as the legal and political elements are concerned, the whole film market is impacted by the threat of piracy which could possibly bring about a negative influence on the overall revenue of the film market. Having stated that, copyright laws use security to the movie market in regards to dissuading piracy.
While the political and legal environment provides protection to film makers, globalization and advancement of technological factors have increased legal challenges such as ease of piracy and breaking intellectual property rights.
It ought to be noted that films belong to the show business while expenditure on any kind of home entertainment is essentially an optional expense which is more or a luxury instead of a requirement. Nevertheless, we take a look at the comparison of the GDP pattern with the trend in demand for motion pictures, we can see that the two are not directly proportional suggesting that any change in GDP development does not always bring about a change in this specific home entertainment.
As far as the social-cultural aspects are worried, it must be noted that the 70% of IMAX audiences are in between the ages of 19 and 56 which enables a lot of diversity when it concerns opting for a particular sector. In addition 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 reveals possibilities of increasing viewership.
With aspects such as 'moms and dads showing an interest in their kids's option of home entertainment' and 'higher buying power in homes' due to both moms and dads contributing towards the household earnings, we can see that the entertainment service has a great deal of potential for industry players.
While technological elements have contributed towards decreasing the expense of entertainment with the introduction of multimedia, truth based home entertainment, home theatres, cable television networks, the pressure on theatres has actually increased in term of making the theatre experience richer for customers in order to make it more attractive than watching movies at home. Furthermore, while innovations have contributed towards the danger of 'piracy' they have actually likewise contributed towards ease of storing and dispersing films.