The Toronto Film Festival has become one of the premier film festivals in the world. But this year we saw Venice upstage us by getting the world premieres of some very big films (e.g. The Wrestler).

The question now is whether or not Toronto has to be more aggressive in trying to secure the rights to have the first screening of the film or do we just continue on the same track and possibly lose some of our clout?

This week E! News Weekend's Arisa Cox was at the Toronto Film Critics Association dinner and got a chance to ask Cameron Bailey (Co-Director of TIFF) what his thoughts were on the subject.

Watch the clip to hear what he has to say.