In the recent years, we have witnessed the rapid adoption of social media platforms, such as Twitter, Facebook and YouTube, and their use as part of the everyday life of billions of people worldwide. Given the habit of people to use these platforms to share thoughts, daily activities and experiences it is not surprising that the amount of user generated content has reached unprecedented levels, with a substantial part of that content being related to real-world events, i.e. actions or occurrences taking place at a certain time and location. Given the key role of events in our life, the task of annotating and organizing social media content around them is of crucial importance for ensuring real-time and future access to multimedia content about an event of interest. In this chapter, we present several research efforts from recent years that tackle two main problems: a) event detection and b) event-based media retrieval and summarization. Given archived collections or live streams of social media items, the purpose of event detection methods is to identify previously unknown events in the form of sets of items that describe them. In general, the events could be of any type, but there are also approaches aiming at events of specific type. Given a target event the goal of event summarization is first to identify relevant content and then to represent it in a concise way, selecting the most appealing and representative content.