SXSW Sydney killed after dispute over fee cut
State agency Destination NSW pulled funding after Penske Media Corporation refused to offer a discount on the licensing fee for the US festival franchise.
Destination NSW pulled funding for SXSW Sydney after the culture and innovation festival's American owner Penske Media Corporation refused to offer a discount on the licensing fee.
A source with direct knowledge of the issue who requested anonymity to discuss the confidential matter told Capital Brief the dispute over the discount was the primary reason behind the festival's closure.
Penske and Destination NSW did not immediately respond for comment, but Investment NSW said it will continue working with industry, community and event partners to identify opportunities that support innovation in the state.
"The NSW Government remains committed to creating an environment where innovators, entrepreneurs and creatives can collaborate, learn, develop, and scale their ideas," it said. “NSW is already the best place to innovate in the Southern Hemisphere and we are investing in the people, industries and partnerships that drive our state’s future."
