As part of its longer-term rebuilding strategy, Hot Docs is seeking a new owner for its cinema at 506 Bloor W. In a news release yesterday, the organization said it is “actively seeking a buyer who values cultural spaces and creative enterprise,” one who demonstrates a commitment to the legacy of the Cinema “as a vital hub in the city”.
Hot Docs — which has been in business for just over three decades — is the largest documentary festival in North America, with the Hot Docs Ted Rogers Cinema having a seating capacity of 650. Still, the organization is working through two years of operating deficits, the majority of which can be traced back to the ownership and operation of the Cinema.
In March, the organization stated that it was dealing with significant operational challenges — in 2019, the theatre averaged 750 people a day, but after shutting down for two years during the pandemic, Hot Docs has struggled in its comeback.
Ticket sales at the Ted Rogers Cinema for this year’s festival were up 65% over the last fiscal year, but attendance was down 38% compared to the year before the pandemic; similarly, membership revenue was up 21% over the same period last year but was down 31% compared to the pre-pandemic era.
“Owning the Cinema for the past 12 years has been an incredible opportunity for Hot Docs, allowing us to expand our reach and impact and those of the stories we’ve showcased on our screen,” Nicholas de Pencier, co-chair of Hot Docs’ Board of Directors, said in a statement “But current financial conditions—including rising interest rates and the post-pandemic recovery of audiences—have made it extremely challenging. We’re confident that finding the right buyer will allow us to refocus on our mission to support documentary filmmakers and continue to celebrate their work at the Cinema and Festival, while also addressing our deficit and ensuring our long-term viability.”
To prepare the organization for new executive leadership, Hot Docs’ Board of Directors scaled down to a three-person working board in June, and the Board is planning to rebuild its membership in the winter.
“The Board is dedicated to ensuring that the organization takes the right steps during this process to identify an individual who will not only excel in leadership but also resonate with our mission and community,” the news statement reads. “All qualified candidates are encouraged to apply.”
Even with the organization’s financial challenges, the Board is getting ready for its 2025 festival and the gradual resumption of programming at the Hot Docs Ted Rogers Cinema. The 32nd annual Hot Docs Festival will take place April 24 to May 4, 2025, in Toronto, with Festival Programming Director Heather Haynes leading the curation of a lineup of more than 100 documentaries from Canada and around the globe.
The organization will also gradually resume programming at Hot Docs Ted Rogers Cinema beginning Dec. 4, with the launch of the long-running Doc Soup screening series, featuring premieres of new documentaries off the festival circuit and post-screening Q&As with guest directors.
