This chapter considers the concept of 'network value' as one of the important benefits that events can generate. It explores the analysis of value creation from the traditional areas of economic, social and cultural value towards new sources of value that are particularly important in the 'knowledge economy' or the 'network society'. The chapter focuses on the ways in which the Sonar Festival has generated 'network value' for Barcelona, which provides the physical and symbolic hub around which Sonar has developed. It analyses the network value being generated by a specific event, the Sonar Festival, which operates both in a local and a global context. The addition of new nodes to the network has not only increased the total network value, but it has also strengthened the position of Barcelona as the network 'hub', and as the location of the 'original' festival.