Sundance Festival’s Economic Impact Jumps Up 26% From 2017, Study Says

Variety | 7/17/2018 | Dave McNary
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The 2018 Sundance Film Festival generated a total economic impact of $191.6 million — up 26% from the 2017 event, a study released Tuesday showed.

The Sundance Institute said that the increase from the 11-day festival was due partly to the addition of the 500-seat Ray Theatre, a custom-built two-story venue used for the New Frontier VR section, and an expanded section dedicated to episodic work.

Impact - Study - Y2 - Analytics - Festival

The economic impact study, conducted by Y2 Analytics, determined that the 2018 festival generated over $19 million in state and local tax revenue; supported 3,323 jobs; and attracted more than 124,900 attendees from 49 states and 26 foreign countries. Attendance was up 74% from 71,600 in 2017.

Robert Redford launched the festival in 1978 in Salt Lake City, Utah. It moved to Park City in 1981, when Redford founded the non-profit Sundance Institute to support independent filmmakers.

Year - Impact - Total - State - Tax

This year’s economic impact brought the five-year cumulative total since 2014 to $585.4 million, with more than $55 million in state and local tax revenue generated and more than 10,300 jobs supported.

“More than ever, the people of Utah and our business community appreciate the unique benefits provided by the Sundance Film Festival,” said Governor Gary Herbert. “We look forward to our ongoing work together and the...
(Excerpt) Read more at: Variety
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