LOS ANGELES (CNN/Money) - Her curves are smoother. Her disposition is darker. And her prospects are red hot. Lara Croft's back – and she's leading the charge of well-known franchises that are making their way into the next generation.

Everything old is new again in the gaming world – but that's a big part of what keeps that world turning. Franchise characters and games are the lifeblood of the industry. And with the introduction of new consoles and video cards that can handle more advanced graphics, publishers are seeing the chance to hook tens of thousands of new players.

"Tomb Raider: The Angel of Darkness" is scheduled to land on the PC and PlayStation 2 later this year. The buzz over the game is good (especially when you consider the critical drubbing the last few "Tomb Raider" games have taken). And Lara's graphically refined look sure isn't hurting, either.

Lara Croft: Then and now.

"Tomb Raider" is a testament to the power of franchises. The series has spawned 29 games (and game bundles), a major motion picture, and an adventure ride at the Kings Island theme park in Ohio.

Since Lara burst onto the scene in 1996, the games have sold nearly 2.9 million copies, according to NPDTechworld. That's meant millions of dollars for developer Core Design, as well as millions for Sony (SNE: up $0.04 to $59.60, Research, Estimates). More importantly, it helped the PlayStation become the de facto console gaming system in the world.

Mario gets a new look on the GameCube.

Meanwhile, Mario -- Nintendo's cheerful plumber -- is looking a little sharper these days as well. "Mario Sunshine," due out before the end of August, will mark his first starring role on the Nintendo Gamecube. (He made a cameo in last year's "Luigi's Mansion" and was part of an ensemble of characters in "Super Smash Bros.")

He'll be joined by revamped titles featuring Starfox and Zelda. And Nintendo's taking the unusual move of shifting the focus of one of its minor franchises, in hopes of making it a major one. "Metroid Prime," scheduled to be out later this year, is making the move from a 2D- to a 3D-game. At the same time, it's shifting away from arcade-like side-scrolling action to a first person mode – and the baddies are a lot more ferocious.

"Each of the platforms has to have a distinctive library," says John Taylor, managing director and analyst for Arcadia Investment Corp. "I think Nintendo is most widely recognized as the best at doing that with the Mario, Zelda, Donkey Kong and those kinds of properties. Nintendo takes responsibility for driving its own base."

Doom III will feature cinematic-quality graphics throughout the game.

Even the PC is giving one of its most famous (and controversial) titles a facelift. id Software's "Doom III" flexes a graphical muscle heretofore unseen in the gaming world. Activision (ATVI: up $2.40 to $34.76, Research, Estimates) has won the rights to serve as the game's publisher, which is bound to push its stock even higher than it has been climbing lately.

As for id, the money earned from "Doom III" is just the beginning. id's primary business is licensing its 3D engines to other developers. Games based on the technology used in "Quake III Arena" (the company's last title) have included "American McGee's Alice," "Star Trek: Elite Force" and "Star Wars Jedi Knight II: Jedi Outcast."

id keeps the number of licensees of the "Quake III" engine limited to avoid market saturation. The company still makes a hefty amount from licensing fees, though, charging a $250,000 guarantee against a 5 percent royalty of the wholesale price for a single title. Hardware manufacturers looking to create specialized content to show off their new product pay a $150,000 flat fee. (It will likely charge more for the "Doom III" engine.)

Metroid has undergone the most striking facelift.

While all of these updated franchises will certainly look better, there's no guarantee they'll actually play better than – or even as good as – the originals. Ultimately, though, that might not matter.

"Franchises have loyal buyers, loyal followers," said P.J. McNealy, research director at GartnerG2. "I don't think anybody's every killed a franchise with a bad sequel."