Entertainment companies Village Roadshow (ASX: VRL) and Ardent Leisure (ASX: AAD) could be about to discover a new revenue stream for their existing infrastructure if reports from overseas are anything to go by.
The Financial Times reports that, this week, thousands of viewers will attend cinemas throughout Britain to watch a guided tour of Pompeii Live.
According to the report, many cinema chains "have started to screen everything from live opera and ballet to rock concerts and sport." Because cinemas have replaced their traditional film projectors with digital technology, such live streaming of events is now a simple addition.
The potential emergence of a growth engine for Australian cinema operators couldn't have come at a more critical time for what is otherwise a mature business facing continued competition from home theatre and internet alternatives.
Foolish takeaway
With Village and Ardent both outperforming the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) over the past 12 months as the chart above shows, new innovations such as 'live' cinema broadcasts could be just the ticket so help these two companies continue their outperformance.
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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.
