SXSW, the largest cultural event in the United States, today announced that Penske Media Corporation has transitioned from a majority stakeholder to full owner. The move represents a seamless evolution of a multi-year strategic partnership built on shared ambition, strong financial growth, and international expansion. SXSW will remain headquartered in Austin, where its flagship Conference & Festivals and SXSW EDU will continue to take place. SXSW 2027 runs March 15–21, preceded by SXSW EDU, March 13–16.

The partnership began in 2021, when PMC invested in SXSW following the severe financial impact of the COVID-19 pandemic, providing critical capital that helped secure the event’s future. Over the past several years, PMC and SXSW have worked together to strengthen the company’s long-term foundation, expand opportunities for programming, partnerships, and community building, and grow its global presence in Europe. SXSW will continue to be led from Austin, with a focus on preserving the deep community relationships that have long defined the event.

Founded by Roland Swenson, Nick Barbaro, Louis Jay Meyers and Louis Black, SXSW has played a central role in Austin’s evolution as an international destination for music, film, technology and the creative industries. Under their leadership, SXSW created a new model for bringing different industries and communities together and established a global event that remains deeply connected to its hometown.

“It's been a great joy and honor to help build this company from the ground up,” said Nick Barbaro, SXSW co-founder. “We could never have done this anywhere but Austin, and thanks to the hard work and dedication of so many talented people who’ve cared deeply about its purpose over the years, SXSW continues to impact the lives of countless artists and innovators around the world. It’s been a great ride and we look forward to watching SXSW continue to grow in vibrant new ways while remaining focused on helping creative people achieve their goals.”  

"SXSW combines exceptional leadership and a proven playbook with a live event experience that is second to none." said Jay Penske, Chairman and CEO, Penske Media Corporation. “Premium live experiences are central to Penske Media’s future, and we are thrilled to increase our stake in SXSW, and provide the company with further backing and together write the most expansive chapter in its history."

The transaction reflects PMC’s continued investment in global live events that convene influential communities across entertainment, media, music, technology, fashion, art and culture. PMC’s portfolio of events and experiences already includes the Golden Globes, Latin Music Week, the Academy of Country Music Awards, the Billboard Music Awards, and New Year’s Rockin’ Eve, and over 315 additional live experiences produced and built by PMC brands including Billboard, Rolling Stone, Variety, The Hollywood Reporter, WWD and Sportico.

Since its founding in 1987, SXSW has grown from an Austin music event into an internationally recognized destination for discovery and connection across technology, film and television, music, education, comedy, culture and business. Each year, SXSW brings global creative and professional communities to Austin while providing a platform for the artists, entrepreneurs, innovators, and organizations that make the city distinctive.