P-MRC Invests in SXSW, Marrying Event Platform With Top News Brands

Variety owner P-MRC has made a significant investment in South by Southwest, the parent company of the annual SXSW festival. The deal brings top entertainment news brands together with an expansive digital and in-person platform for festivals, conferences, markets other live events.

The partnership calls for the existing South by Southwest management team to continue to lead the business. After a rocky pandemic year that forced the cancelation of the 2021 edition of the annual festival in Austin, Texas, the organization is focused on returning to an in-person gathering in March 2022. Discussions with

“It has been an incredibly tough period for small businesses, SXSW included,” said Roland Swenson, CEO and co-founder of South by Southwest. “When Jay Penske approached us with an interest in becoming a partner, it was a true lifeline for us. Both of our companies share a passion for producing high quality content that helps shape modern culture, so this feels like a natural alliance. Now we are focused on the March 2022 event, and we’re honored to embark on a new chapter of SXSW with both his experience and the capabilities of P-MRC at our side.”

Discussions between SXSW and P-MRC have been held on and off for some time.

“We are grateful and proud to become enduring partners with SXSW, and collaborate with its exceptional team. Since 1987, SXSW has been the world’s premier festival centered at the convergence of tech, media, film, and music. Today SXSW continues to be one of the most recognized brands for empowering creative talent and bringing together the brightest creators of our time. As part of this significant investment, we plan to build upon SXSW’s incredible foundation while extending the platform further digitally and assisting Roland and his incredible team to bring their vision to even greater heights.”

More to come 

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