I think that would depend on how close you are to the nearest alt. cinema. I am an alternative cinema and I show art, independant, and foreign films. Last year when the 1st run houses were low on product, they edged into my market. After a really bad year, I was less than ammused to share "Crouching Tiger" with the local multiplex. We depend on picking up a few hot titles a year to catch everything up. It really hurts when a 1st run house edges into my market.
With that said, if no one else is running that type of product in your area, you might find it'll work for you. But, be warned, it is a long road to cultivate the audience that will support such product. You can't go from "Dude, Where's My Car" to "Ameros Perros" and expect a huge draw. If you plan ahead and get the word out that on a specific date you'll have a film outside of your usual genre, you'll eventually build up a following. But, to try to plug in an art film into a booking hole won't work -- too quick of a transition for those looking for art product. If you did one a month on a specific week or did a late night or Sunday matinee show, I think you'd eventually find it worth your while.
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