According to a study conducted by TNS Canada Ltd. on behalf of TIFF, the festival, along with the year round programming provided by the Bell Lightbox, created 2,295 jobs and brought roughly $189 million into the city's economy through revenue created from tourism, restaurants and hotels. The festival gets funding from the federal, provincial, and municipal governments. Last year's festival reportedly attracted 27, 343 visitors from outside of Toronto, including over 4,000 film industry professionals - which has seen an increase of 10 per cent at this year's festival.
The last decade has seen a meteoric rise in the size and reputation of TIFF, due in part to the role the festival plays in the awards season the months after. Several Academy Award-winning films have premiered at TIFF, including best picture winners Slumdog Millionaire and The King's Speech. Conceived in 1976 as "The Festival of Festivals," showcasing 127 films from 30 countries, it was renamed in 1995 as the Toronto International Film Festival, and in 2012 featured 372 films from 72 countries. TIFF's success has only been compounded by the Bell Lightbox, a hub for TIFF initiatives and exhibitions, which opened in 2010. The festival is also an opportunity for independent films to gain a wider audience through rights sales, which amassed to 21 U.S distribution deals this year.
Dede Gardner, president of Plan B Entertainment and producer of TIFF Audience Award winner 12 Years a Slave, says TIFF is the place to be for film. "Every movie wants to get here. It's a great launching pad. It's the beginning of the fall season. Also Toronto's a great democratizer, you know there is such a range of movies, you're in good company," she said in an interview with CBC’s Lang O’Leary Exchange. Whether 12 Years a Slave goes on to win Best Picture at the upcoming Oscars is unknown, but TIFF's reputation as one of the world's biggest film festival's is intact, and its presence will only benefit the city of Toronto in the years to come. ~Raj-Kabir Birk
Tags:
12 Years a Slave, Dede Gardner, tiff
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