Over 38 years, the South by Southwest festival (better known as SXSW) has grown to be important for both music and film. For filmmakers, the scrappy (ahem) and indie feel of the festival in the early days, was a welcome respite from the often-stuffy feel of other festivals at the time. As the popularity of the festival grew, so did its importance. SXSW became one of the most important festivals, not only for independent filmmakers, but for the industry as a whole.
Despite the increasing size and relevance of the festival, it was hit, like so many things, by the COVID-19 pandemic. A last-minute cancellation of the March 2020 in-person component of the fest, led to a large loss for the ownere/founders of the festival. Enter a new owner. Or at least partial owner. In 2022, The Penske Media Group, or PMG took a 50% ownership in the festival, later acquiring majority control with the acquisition of another one percent in 2025.
If the Penske Media Group sounds familiar, it’s because they own most of the film/media trade publications. The Hollywood Reporter, Variety, Deadline, Rolling Stone, and yes, even IndieWire are all part of PMG. This conglomerate also now owns awards shows, like the Golden Globes, and Streamy Awards.
Which brings us back to SXSW. With a majority stake in the festival, and all the major outlets covering it, PMG has an outsized ability to make or break a career. With this power, they could decide what films are programmed at SXSW, how those movies are covered, and perhaps even influence awards they win long after SXSW.
Will PMG use their power for ill? It’s hard to tell as it hasn’t even been a year since we learned of them taking the controlling stake in SXSW, but just as a general rule, one large company controlling a major festival, four of the biggest outlets covering that festival, and several awards shows just doesn’t sound like something with the best interest of independent filmmakers at heart.