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Nearly $100 Million Expected From Music Conference and Festival

Posted by: Nate Berg

2 March 2008 - 11:00am

Austin's South by Southwest music conference and festival is expected to bring nearly $100 million to the city -- more than double last year's amount.

"'Cities that are fun are going to do better economically,' Wynn said, highlighting SXSW's blend of trade show, professional conclave and entertainment provider."

"'There's no other event like it in the United States,' said Angelou Economics chief executive Angelos Angelou."

"Angelou said that in addition to the $95 million in direct revenue, SXSW generated media attention worth $12.8 million."

"Angelou's estimate is more than double the $43.5 million impact estimate from the Austin Convention and Visitors Bureau."

"According to the Angelou report, attendees for the March 7-16 events included 21,000 badge holders, 7,300 musicians and 7,600 wristband holders, or nearly 36,000 people. In addition, the report factored in the impact of 87,000 attendees who bought individual tickets or spent money at music showcases, film screenings, the Town Lake Stage free concerts, the Flatstock poster convention and the Screenburn video arcade."

"More than 1,700 bands are expected at this year's SXSW music festival compared with about 1,500 in 2007."

Full Story: New study says SXSW worth $95 million to Austin
Source: Austin American Statesman, February 28, 2008
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