by Sam Sanders

The South by Southwest music festival bills itself as “the premier destination for discovery.” It’s also the destination for truckloads of cash, as music and art fans flock to Austin, Texas, each March. Last year’s event brought nearly $100 million to the city, according to one analyst.

The more than 200,000 “creative class” types — musicians, media gurus, filmmakers — who come to South by Southwest (often known merely as SXSW) spend money not only at the official event, but also in Austin’s rich underground economy.

The annual festival has become a cash cow for the city, says Ben Loftsgaarden, an economic analyst with Greyhill Advisors who studied the economic impact of last year’s event.

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