As far as the political and legal elements are concerned, the whole movie market is impacted by the hazard of piracy which could possibly bring about a negative influence on the total revenue of the film industry. Having said that, copyright laws offer protection to the film market in terms of discouraging piracy.
While the political and legal environment uses protection to film makers, globalization and advancement of technological aspects have increased legal obstacles such as ease of piracy and violating intellectual property rights.
It ought to be kept in mind that films belong to the entertainment industry while expenditure on any type of home entertainment is essentially an optional expense which is more or a high-end rather than a need. We look at the contrast of the GDP pattern with the pattern in need for motion pictures, we can see that the 2 are not directly proportional suggesting that any change in GDP development does not necessarily bring about a modification in this specific entertainment.
As far as the social-cultural aspects are worried, it needs to be kept in mind that the 70% of IMAX viewers are in between the ages of 19 and 56 which permits a lot of variety when it pertains to choosing a particular section. In addition with majority of the audiences being college or university students with a typical family income of $70,000, the purchasing power of the target audience reveals possibilities of increasing viewership.
With elements such as 'parents revealing an interest in their kids's option of home entertainment' and 'higher buying power in households' due to both parents contributing towards the household income, we can see that the entertainment service has a great deal of potential for market gamers.
While technological elements have contributed towards reducing the expense of entertainment with the introduction of multimedia, truth based entertainment, house theatres, cable networks, the pressure on theatres has increased in regard to making the theatre experience richer for customers in order to make it more appealing than seeing movies in your home. Additionally, while developments have contributed towards the danger of 'piracy' they have likewise contributed towards ease of keeping and distributing movies.