To what degree do participating and nonparticipating brands enjoy engagement of social media users in the setting of multibrand events? Based on empirical material comprising 4,424 user-generated content published before, during, and after Fashion Week Stockholm in February 2016, this article illustrates how the studied multibrand event both concentrated engagement for participating brands and created spillover engagement to other, nonparticipating brands. Therefore, these findings question whether individual brands benefit from being official participants in multibrand events. This article contributes to the field of event management by illustrating the dynamic interplay between engagement created in social media and multibrand events, while also highlighting associated conceptual and managerial implications.