SXSW, the annual tech, music, and film meetup held in downtown Austin, is the latest major conference to be canceled due to the coronavirus outbreak, and just one week before it was slated to start. It is the first time in the event’s 34-year history that it’s been canceled. The festival was scheduled to take place from March 13th to March 22nd, yet Austin Mayor Steve Adler today announced that, amid an increasing number of high-profile speaker and company withdrawals and growing public health concerns, the festival will no longer be taking place.

“I’v issued an order that effectively cancels South by Southwest,” Adler said, referencing an emergency order put in place Friday over the coronavirus. The decision will almost certainly be a harsh blow to the city’s economy, as SXSW brings in hundreds of millions of dollars in tourism, ticket sales, and other revenue streams every year. Last year, the festival made $355.9 million for the city of Austin, SXSW said in November of last year.

The private company that organizes SXSW, which has yet to detail its refund policies, made clear in a statement issued on Twitter and its website that this was a decision made by Austin city officials and out of its hands. Yet the festival may end up taking place in some form or another later this year. “We are exploring options to reschedule the event and are working to provide a virtual SXSW online experience as soon as possible for 2020 participants, starting with SXSW EDU,” reads the full cancellation note on the SXSW website.

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