The weather was different at this year’s SXSW, Austin’s annual March festival where technology meets pop culture. I was reminded of SXSW 2019 when people flocked downtown and lines snaked out of local businesses.
Attendees said it was the same this year, although a friend who lives in the area and has attended many times admitted that some things have changed. For example the festival is now two days shorter than before. It was also “decentralized” due to the demolition of the Austin Convention Center, which scattered events and panels throughout downtown venues. It made the whole conference feel less tense, but also less connected.
The event is still recovering from the pandemic, during which it laid off staff and didn’t generate much revenue for two years. It has since changed hands and adopted a new strategy from this year.
Greg Rosenbaum, SVP of programming at SXSW, said this year, the conference’s 40th anniversary, was its most “ambitious reinvention” yet. He noted changes such as new Clubhouses for recharging, networking and special programming that attract 5,000 people each day. He noted how attendees experienced “more of Austin and the downtown community.”
At least for the tech founders I’ve talked to, the conference remains very valuable, and everyone gave the same advice: at conferences like this, you get what you give.
After all, there were people to meet and panels to speak on. Grammy nominee Lola Young performed, Vox hosted a warm reception, the new Boots Riley movie premiered, Serena Williams and Steven Spielberg headlined. (I also moderated a panel on artificial intelligence and taboo topics like relationships and money.
Investor and founder Ashley Tryner-Dolce said the conference was still an “incredible collection of ideas.” Like many festivals, he found the most “meaningful moments” to happen at side events like INC’s Founder’s House party, where he connected with other founders and CEOs.
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“It’s less about the main stage and more about who you’re sitting in front of,” he said.
Black Ops VC managing partner James Norman didn’t even have a proper badge for the festival. He hosted an event to connect founders with opportunities and attended some movie screenings and dinners.
As founder Jonathan Sperber, who participated in the SXSW pitch competition, put it, “If you’re just pitching to the rooms and conversations that matter without the right connection or proximity, you’re going to struggle to unlock the true value of the event.”
“The value depends on how well you prepare for it,” Sperber said, adding that his team made sure meetings were lined up and a clear strategy was in place. He called it “an effective setting to engage with large enterprises and other key stakeholders.”
Talk of SXSW dying has plagued the industry for years, but it never seems that way. For every weary founder, the festival is followed by fresh eyes and ambitions ready to take advantage of what lies ahead.
For example, it was Simon Davis’ first SXSW. He said the overall impression was “a media conference with a technology angle,” not the other way around. He praised the event’s diversity compared to other tech events (which we’ll refrain from mentioning).
“At SXSW, you get a wider range of people, backgrounds and experience levels,” he said. “Live music programming reinforces that. It’s a whole different energy. It’s not necessarily a place where you go to make deals as a tech company, it’s a great place to share and learn.”
This year, SXSW introduced a new badge system, meaning each person had a different experience depending on which track badge they were on – film, music or technology. For example, I felt surrounded by conversations about AI and technology, and heard other tech people talk about how the festival once had a stronger music focus (although this year there were more tech-oriented panels than music showcases or film opportunities).
The conference also eliminated secondary access, which allowed people with music badges to enter film events, for example. Instead, people had to buy a reward token worth about $2,000. He also introduced a reservation system (to help with lines) where badge holders had to reserve a time for whatever they wanted to do. This was true even for platinum badgers like Sperber.
As a result, he said the festival didn’t feel like a place where everyone could show off, noting that some acts were booked so quickly that it was difficult to get into them. The off-center bit also made it harder to get going than he would have liked.
“I liked the openness and the ability to meet people from all life experiences, I really got to understand the city and some of the interactive exhibits were very interesting,” she said.
Rosenbaum said the team decided to get rid of secondary access after hearing feedback from attendees that they wanted more “simplified access between badges, as well as more benefits for Platinum badges.” They also lowered the price of the platinum badge to make the all-in-one option more affordable. Meanwhile, reservations will return next year, he said, citing positive reviews (aside from a few technical glitches and potential confusion). “Of course we will fix and improve them as needed,” he said.
Norman described it as more of a “conference” now, at least from his perspective. He said the event is more flexible, allowing people to move around, meet people and then go to other places.
Fintech SoLo Funds co-founder Rodney Williams also noted the change, but again, it’s not necessarily bad. He has been going to SXSW and hosting events and speaking on panels for over a decade. Usually, he goes to the entire festival, but this year he decided to go for just a few days, skipping his own events and avoiding the lines.
With its focus on “investor engagement and experiential marketing” for tech founders, SXSW has “moved from an intimate, scrappy discovery zone to a high-priced, highly competitive space” — meaning companies with big budgets can run big activations and get more eyeballs.
“If it’s your first time attending or you don’t have access to the right events or connections, the event can definitely be overwhelming,” Williams said.
“Adweek” reported on this less glasses overall and said no advertising from big tech companies. Even with the absence of big tech companies, advertising is still a big money game, Williams explained.
“Companies with massive marketing budgets usually only attend, launch products or run expensive events,” he said. “It wasn’t always this way, and this change has taken away opportunities from emerging technology companies that were previously involved.”
Williams added: “Standing out now requires not just a great product, but a significant marketing investment that only companies with big budgets can make.”
That didn’t stop him from throwing a party this year. Norman too. In fact, organizers expected around 300,000 people to attend this year (final numbers won’t be available until April), revealing that the conference still hasn’t lost its steam and magic.
“I always enjoy it and make the most of it,” Williams said.
