SXSW organizers aren't yet sure how it'll return in 2021 after heavy financial loss

Multiple industries are sure to feel the ripple effects from last Friday’s SXSW cancellation for an undisclosed amount of time, especially within the city of Austin itself, which will likely lose around $355 millions in economic revenue. The film, music, and tech festival will have to weather a particularly hard blow: Because pandemics are not covered by the event’s insurance, SXSW stands to lose tens of millions of unrecoverable dollars. What does this mean for the future of Austin’s most notable annual event? According to co-founder and Chief Executive Roland Swenson in an interview he did with Wall Street Journal’s Elizabeth Findell, the financial impact of the cancellation makes it too hard to assess just how the festival will return next year.