A torchlight procession signals the start of Edinburgh's New Year festival
The impact Edinburgh festivals have on the city and on Scotland is to be measured in a bid to develop their long-term future.
A study will measure the economic gains brought by the events, along with their media profile, social and cultural benefits and environmental outcomes.
The effects of all 12 Edinburgh festivals are to be monitored.
The research is being hailed as a first of its kind in the history of the Edinburgh festivals.
Susan Rice, Festivals Forum chairwoman, said: "Edinburgh's festivals are a cultural phenomenon, celebrated globally and treasured locally.
"What may not be so apparent is the economic and wider social value that the Festivals bring, not just to Edinburgh, but to Scotland as well.
"This research seeks to quantify that value and, as such, will add enormously to our appreciation of the festivals."