Hot Docs’ first-ever economic impact study has revealed a total impact of $29.9-million on Ontario’s GDP, reflecting the event’s tremendous value to both Toronto and the province. The study, which was conducted around Hot Docs’ 2024 festival, conference and market and associated year-round operation, reported $5.1-million in attendee expenditure at the Festival, and $6.7-million in industry delegate expenditure. A remarkable $16.0-million in Canadian business deals attributable to Hot Docs’ slate of industry market programs and activities was also reported. These expenditures, combined with Hot Docs’ operating budget, translates to a positive estimated impact of $29.9-million on the total GDP of Ontario, 413 jobs and $13-million in tax revenue.
“We’re heartened to see such robust results in Hot Docs’ first-ever economic impact study,” said Brett Hendrie, executive director of Hot Docs. “Toronto has become a premier destination for filmmakers and film fans, and we’re thrilled to not only support Canada’s documentary industry in such a big way, but to also contribute to the cultural, tourism and economic vitality of the city and province.”
The study also found that 66 per cent of industry delegate respondents were visitors to Toronto, with a majority of these, 22 per cent, coming from an international location, and 17 per cent coming from the USA. Additionally, 17 per cent of festival attendee respondents were visitors to Toronto, with a majority of these, 13 per cent, coming from other areas of Ontario.
The 2024 edition of Hot Docs marked the Festival’s 20th anniversary. From April 25 to May 5, 418 screenings of 204 documentaries representing 43 countries of production took place on 15 screens throughout Toronto. Hot Docs’ industry conference and market welcomed 2514 registered delegates, including 386 documentary buyers, who participated in full slate of professional development session and market initiatives, including the Hot Docs Forum and the Hot Docs Dealmaker. The total estimated audience of Hot Docs 2024 was 180,000.
Hot Docs is a charitable cultural organization with a mission to advance and celebrate the art of documentary, and to showcase the work of and create production opportunities for documentary filmmakers.
The economic impact study was conducted by Co-op Interface and included: 864 intercept questionnaires of screening attendees, and 572 electronic questionnaires received back from industry delegates. Expenditures were compiled and inputted into Ontario’s Ministry of Tourism, Culture and Sport’s Tourism Regional Economic Impact Model (TREIM) to determine the total economic impact of the Festival on the economies of Toronto, the GTA and Ontario.