There are few segments of the economy that have been affected by technology as much as the movie business. The traditional business model of paying for a movie ticket and then grabbing a tub of popcorn and a drink may seem somewhat dated now, especially when considering the sheer number of ways in which consumers can consume media.

While this may sound like a case for staying clear of movie theatre companies such as Cineplex Inc. (TSX:CGX), the truth is that Cineplex has risen to the challenge in so many ways to not only reinvent the tired business model, but to provide new revenue sources, making it a lucrative investment option.

Here’s a look at what makes Cineplex a strong investment option.

Dividends, dividends, dividends

First and foremost is Cineplex’s dividend. The company has one of the better dividends on the market, paying out a quarterly dividend of $0.135 per share. Given Cineplex’s current price of $50.70, this gives it a respectable yield of 3.20%.

Cineplex has increased the dividend payout steadily over the past few years, and this combined with the company’s impressive results has made many investors see Cineplex as the perfect forever stock for any portfolio.

 The ever-growing business

Cineplex isn’t a typical movie theatre company. Cineplex has impressively found ways to augment revenue by branching out into innovative ways that have proven to be wildly successful.

The company’s new VIP section is a prime example of this. These dedicated sections that are available in a growing number of theatres have large recliners, chef-inspired menus, and ultimately result in customers staying longer and ordering more.

Cineplex’s Rec Room concept is another innovative way to get customers to stay longer and spend more. The Rec Room is a multi-purpose, reconfigurable room that can be set up to host any type of event from birthday parties to corporate events. Again, the advantage here is that customers stay longer and spend more.

Appealing to the non-movie-goer audience is another step Cineplex has taken. The company purchased a majority stake in World Gaming, which hosts events that are cater to the gaming community. The online gaming industry is a potentially multi-billion dollar market that is still very much in its infancy in Canada. Cineplex is jumping on this opportunity; hosting gaming events is nothing short of sheer genius.

Let’s not forget about the traditional movie theatre segment of the company. Say what you will about the movie theatre model, but Cineplex continues to produce solid results from its movie theatres. While the ways in which we can watch the latest Hollywood blockbuster has grown incredibly over the past few years, watching a movie on the big screen is still very much the most optimal experience.

The other small-screen business

Cineplex also has another source of revenue that is not necessarily as well known. Cineplex has a digital media arm that is responsible for the large digital screen menus that are popping up in food outlets across the country.

While not directly tied to the movie business, this is just another source of revenue for the company that is set to continue to grow over the next few years as screen menus are rolled out to a growing number of businesses.

In my opinion, Cineplex is one the best options on the market for investors looking for companies that offer both growth and dividend-income opportunities.

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Fool contributor Demetris Afxentiou has no position in any stocks mentioned.