A new report shows the Stratford Festival continues to have a tremendous impact on the economy.
In fact, the report claims the impact is more than a quarter of a billion dollars.
According to Executive Director Anita Gaffney, an economic impact study was conducted last year, supported by Sport Tourism Canada, the Canadian Tourism Research Institute and the Conference Board of Canada.
"The last one we did was in 2017. And we thought it was time to take a look. So we worked with an external company who looks at our anonymized data in regards to where people are coming from, how much they spend at the festival, how much time they spend in Stratford," Gaffney explained. "And then we also further did a research study among some individuals who visited the festival in 2023, to have a more precise understanding of what they spend in the community."
The latest economic impact study showed just how much spending the festival generates.
"The gross economic impact is $276.7 million, which is an amazing number and further that $147.3 million of economic impact directly within the community was spending on things like restaurants and hotels," Gaffney pointed out.
Visitors spent $24.4 million at local restaurants, and another $2.4 million on other food and groceries. Accommodation providers received $12.3 million from festival visitors, who also spend $10.5 million shopping. Meanwhile, money spent on non-Stratford Festival entertainment and recreation added up to $8.5 million.
Gaffney said their study of direct visitor spending also found the main attraction for visitors was the Festival.
"In speaking to people the main catalysts for a visit to Stratford is the Festival, but people love the community," she emphasized. "I mean, part of what the Festival is, is this beautiful community and the opportunity to step away from busy urban centres and get to a small town with beautiful restaurants and accommodations and parkland. So it's really a symbiotic relationship."
She pointed out 83 per cent of attendees indicated that the Festival was their sole reason for visiting Stratford. The study revealed that 46 per cent of out-of-town attendees stayed overnight in Stratford and the average stay was three nights.
Gaffney added that the festival had a very humble beginning back in the 1950's.
"Since we started, we've had 29.7 million visitors to the Festival since 1953. And you know, it's funny in 1952, Tom Patterson, who was the festival founder, went to the council and asked for $125 to go to New York City to investigate the idea of Shakespeare Festival which seemed absolutely the remotest possibility at that time," Gaffney stated. "At that time, the main industries were railroad repair and furniture business, and those were in decline. Tom Patterson had the idea of establishing a Shakespeare Festival here that would save the economic fortunes of the the city and boy was, was he ever right. To think that that $125 investment is now yielding $276.7 million in economic activity 70 some odd years later"
She said today the Festival is a not-for-profit charitable organization, and its purpose is to spark human imagination through the art of live theatre. At the same time, it remains a catalyst for economic activity in the city of Stratford.
"The festival itself employs over 1,000 people and the presence of the festival generates about 1,400 full time equivalent jobs," Gaffney continued.
The study also found that in 2023 the Festival supported roughly $46.2 million in federal, provincial and local taxes through direct and spin-off effects throughout Canada.
Meantime, the festival is celebrating a surplus of $404,000 for the 2023 season. Gaffney called it a magnificent accomplishment as theatres struggle to win back audiences. The season included thirteen productions across all of its four venues, along with more than 150 events in the Meighen Forum.
“The 2023 season attracted attendance of more than 443,000, which is up 35 per cent from 2022,” said Gaffney. “We are steadily building back audiences and introducing new ones. In 2023, more than 30 per cent of tickets were sold to first-time patrons. Visitors came from across Canada and around the globe, with 18 per cent of revenue originating in the U.S. The strong demand for tickets enabled us to extend the runs of Rent and Monty Python’s Spamalot.”
“In 2023, our stages glowed from the imaginative sparks of the Festival artists and craftspeople,” said Artistic Director Antoni Cimolino. “At a difficult time for theatre I’m proud to say that this was not a year of retrenchment for the Festival but rather a season filled with adventure, risk and accomplishment. We produced four exciting works by Shakespeare, and each was strikingly original in every way. Our musicals touched hearts and delighted our audiences. New work ranged from movement-based creations to potent script-based narratives that have already transferred to theatres in other cities, and we also presented a wide range of more contemporary classics. The fact that we drew a strong audience and were able to balance our expenses with revenues is the final piece of happy news."
The Meighen Forum presented over 150 special performances, panel discussions, workshops, and speakers shaped around the season playbill.
“It’s been wonderful to see patrons connecting with one another around the works on stage once more. Their connection reaches an even deeper level at the Meighen Forum, which sold more than 15,000 tickets in 2023,” said Gaffney.
Total revenue for 2023 amounted to $80.1 million and expenses were $79.7 million. However, expenses have increased by 25 per cent since 2019. The gap was closed by the generous support of festival donors, whose contributions were up 62 per cent over 2019 donations.