Often referred to as Toronto’s Times Square, Sankofa Square is a space that’s meant to contribute to the vibrancy and vitality of downtown Toronto by hosting events, concerts and community gatherings, and as per budget documents, expresses the “community passion and commercial energy of the neighbourhood.”
However those same documents show the space is struggling to draw crowds and revenue from several streams, including advertising on its multiple screens, concerts and corporate bookings, decreased considerably in 2025.
For example, the number of commercial event days at the square dropped from 71 in 2024, to just 22 in 2025. Community festivals and not-for-profits were given a break by waiving event permit fees, but “this did not result in additional community bookings” reveal the square’s budget notes.
The interim general manager of the square says that U.S. tariffs and economic uncertainty were among the reasons for dwindling revenue in 2025.
“Advertising, working with our different partners, that was understandably down early in the year as businesses were trying to figure out some of the international situations that were going on. Some of the bigger advertisers were holding off on some of the digital advertising in the square. Some of our corporate branding activations that would normally take place in the square, those were down,” said Marnie Grona.
However, one advertising executive says that across the rest of the city, advertising and marketing is going strong despite the economic flux.
“I think that the square here has more of a place problem than an advertiser problem,” said Dennis Matthews from Creative Currency.
“Brands and marketers, they care about the context that their ads are being placed in … you’ve had all sorts of protests [here], there’s been homelessness and other problems here that I think have made it, for advertisers, the kind of place that they’re not as excited to be seen at.”
Budget documents also acknowledge that among the key challenges and risks for the space are the increasing number of protests and rallies that take place at the square regularly – given it’s central location and prominence in the city.
In 2025, more than 40 protests and rallies used the square as a gathering place, impacting both commercial and community events. “A number of commercial clients packed up early and have indicated their reluctance to return with future activations,” state the documents.
However, Grona downplayed the impact of those gatherings, saying most clients have been understanding.
“Some are concerned about that. But I think a lot of our clients that tend to work with us … they understand that the space is right beside one of the busiest intersections in the country where people gather and we encourage [that] because it’s part of the Canadian Charter of Rights and Freedoms to come and gather,” she said.
“But we do work with the protestors or any kind of groups that are gathering. They’ll often reach out to us, they’ll work with the Toronto Police — so we’ll have a lot of information and then we’ll work with our corporate clients to let them know what’s happening. Sometimes they’ll continue on, they’re fine. And then sometimes some will just choose another date. So there are some that maybe be a bit hesitant, but for the most part, quite a few of them are understanding of the unique nature of the square.”
Matthews added that the official name change from Yonge-Dundas to Sankofa in 2025 was also off-putting for advertisers.
“The new name they picked for the square … it’s confusing. The city has got to find a way to explain what that is [and] get people to come out here,” he says.
“Sankofa” broadly means “learn from the past to build the future.” Grona admits that while it is taking time for people to adjust to it, it reflects the time we’re living in and companies are responding positively.
“We’ve actually had quite a few companies like the fact that we have our new name and this new mission behind the name. It gives more of a meaning and purpose. People seem to be connecting with [the message]. I do think with the current global environment that we’re in, looking at the past, even if it’s not perfect or pristine, there are lessons that we can take from that — come together, celebrate, and then build something new together,” she said.
Going forward, a new strategic plan for the square includes hosting smaller events and engagements as well as supporting everyday activities that will give people more of a reason to spend time in the space. There’s also hope that FIFA-related activities in 2026 will increase revenue.
According to Grona, both advertising and activations “are starting to pick up and kind of return back to normal.”
“I think we’re gonna be looking at a really busy year at the square,” she said.
