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Industry Survival and Success Factors of IMAX - Case Study Example

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This study “Industry Survival and Success Factors of IMAX” focuses on the different challenges faced by the movie production company in the course of its operations and also the different type of strategies taken by the company to counter such problems…
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Industry Survival and Success Factors of IMAX
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Download file to see previous pages Imax Corporation earned a new spur of life on being taken over by Richard Gelfond and Bradley Wechsler during the period of 1994 at a price of around $80 million. These two people to help address the need for the business expansion of the company helped in making the company public so as to draw huge funds from outside. The two new owners to help address the need for market expansion of the company took resort to different strategies like changing the ambiance of the IMAX theatres to be like that of the multiplexes and presenting films which would be different from the standardized ones. This strategy caught the attention of a niche crowd who were found visiting such theatres frequently. IMAX helped in developing the concept of showing cinemas in halls which would be in-built in buildings containing auditoriums, museums and other such public arenas. Herein the issue of the dip in market capitalization figures from $196 million during 1994 to $125 million during 2008 came out to be a matter of serious concern for the owners.  The company apart from earning revenues from filming movies also created a revenue channel based on leasing of movie equipment and other distribution activities (IVEY, 2009, p.1-3).
The analysis of the external environment of IMAX is conducted based on strategic tools like PESTEL, Porter’s Five Forces Model and also the understanding of the life cycle of the film industry in the United States.
The PESTEL Analysis would help reveal the external environment of IMAX based on the region of the United States and would focus on political, economic, social, technological, environmental and legal aspects.
The film industry of United States depicts an internal political climate wherein several film producers like Walt Disney, Pixar, Warner Bros., and others are found to have created a lobby for them thus obstructing the entry of new firms. Further, the Motion Picture Export Association (MPEA) in the United States is found to render controlling measures upon the several factors pertaining to price levels and other distribution activities of the films produced by the industry to other foreign markets. This body also supports the lobbying activities of the film producing companies in the United States.
The region of the United States reflected a growing market for the growth of films. Thus during the period of 2007 around 603 films were found to be released which countered a huge revenue growth of around $9.6 billion. However, the prices of the films demanded a standardization to help attract a larger number of viewers to the hall and thus took resort to large volumes of commercial advertising.
Several social factors in the region of the United States also impacted the type of cinemas which would be shown to the general public. It is found that the cinemas were considered in American society as a medium for educating and entertaining children. Thus cinemas are increasingly being considered as the mediums for developing the American knowledge base. Further, the existence of a Latin American base is also found to largely impact the production of films in the region. 
Development of cinema technology in the United States using high definition features in DVD recorders and the extensive use of the internet and other camcorders to distribute the cinemas produced among a larger number of viewers led to the growth of several options in regards to the viewing population of United States.  ...Download file to see next pagesRead More
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