 Founded in 1976, TIFF is now one of the largest and most prestigious events of its kind in the world.In 1998, "Variety" magazine acknowledged that TIFF "is second only to Cannes in terms of high-profile pics, stars, and market activity".In 2007, "Time" noted that TIFF had "grown from its place as the most influential fall film festival to the most influential film festival, period".