Takes place during the second or third week in August every year and means the city is full of people enjoying concerts, crayfish, world food, street life and childrens event in a mix. OK, it's not Edinburgh by any means but the main stages in the squares have at least one really famous Swedish artist on every evening and then there is folk music from all over the world, a jazz tent, not so well known international films, childrens theatre and other activities in a park, dragon boats and other canal activities and loads of food stalls. Personally, I think the food stalls are overrated since there is just as good international food in Malmö in its permanent restaurants any day of the year, and there is too little seating in the squares. I prefer to enjoy some good music and the little known side events and the highlight so far was when I got to see Lloyd Cole for free since the whole festival is paid for by Malmö city council. Check the link below for the day to day programme once it's settled every year.
In the middle of August each year the streets are packed with people, vendors, stages end the like. Lots of concerts. Lots of swedish artists on stage.
If the weather is nice, you should expect that a short walk around the corner will take twice the time it took before.
The festival opens every day at about 11 and ends sometimes before midnight on a weekday and some time after midnight on a weekend.
Not every street is a festival street. Roughly said its the streach between the central station and a place called triangeln, and then some. Most of the streets are pedestrian.