BANFF – The 2014 Banff World Media Festival contributed positively to the industry’s economic growth at both domestic and international levels, says a new independent economic impact study produced by Nordicity.
An estimated 5,000 projects were discussed and/or advanced over last year’s event at approximately $2.4B in projected value of business deals closed, according to the study. Traditional and digital broadcasters were estimated to have committed to $474M towards production, and distributors advanced or closed a further $391M in content sales.
The study also determined that Banff’s ‘Face-to-Face’ meeting series is an invaluable tool for the industry, noting that delegates held approximately 21,100 meetings over the course of the four day 2014 event. On average, each delegate held nearly 15 meetings with fellow attendees. Distributors reported the highest number of meetings, at 24, while participants in advertising and marketing held an average of eight meetings.
“Banff is already known to be the leading international forum for connecting with development and co-production partners, in addition to opportunities for monetizing entertainment content,” said executive director Ferne Cohen, in the news release. “This report quantifies some of the ways Banff provides its attendees the chance to conduct business and secure deals.”
The Banff World Media Festival is the world’s largest gathering of entertainment industry and digital media executives dedicated to media content production, broadcast and distribution within TV and digital media. The 36th annual Banff World Media Festival will take place June 7-10, 2015 at the Fairmont Banff Springs Hotel in Banff, AB.
