Founded in 1987, South By Southwest (SXSW) began as a festival focused on music. In 1994, it added film and multimedia components. In 2011, it added fashion with the adoption of Style X (pronounced “style by”), a fashion trade show and event, to the conference’s calendar. For the city of Austin, Texas, SXSW is the highest revenue-producing special event for the local economy, with an estimated economic impact of $167 million in 2011. This year, the conference featured digital trends and technology that directly focused on retailers utilizing social media and commerce as part of their online marketing strategy.
The rise of interest networks
The most talked-about trend this year at SXSW was interest networks. During the conference, it was clear that interest networks are the next big thing that Silicon Valley is watching to change online user behavior. With interest networks, online users can tailor their experiences and interactions around things that interest them by choosing the people, brands and products they’re connected to. The concept is already found in Google Circles, where you can assign people, brands and products you follow to a certain “circle” or group set.
Now the concept is being translated into entirely new social networks like Chime.In (founded by Uber Media’s Bill Gross) and Hibe, a network that assigns its users “facets” that enable them to create one of four online profiles–family, professional, friends and public. Each profile contains a certain amount of information that the user then designates for different people to see.