Alongside Porto, Rotterdam was European Capital of Culture in 2001. The city has its own orchestra, the Rotterdam Philharmonic, with its well-regarded young music director Yannick Nézet-Séguin; a large congress and concert building called De Doelen; several theaters (including the new Luxor) and movie theatres; and the Rotterdam Ahoy complex in the south of the city, which is used for pop concerts, exhibitions, tennis tournaments, and other activities. A major zoo called Diergaarde Blijdorp is situated at the northwest side of Rotterdam, complete with a walkthrough sea aquarium called the Oceanium.

Rotterdam features some urban architecture projects, nightlife, and many summer festivals celebrating the city's multicultural population and identity, such as the Caribbean-inspired "Summer Carnival", the Dance Parade, Rotterdam 666, the Metropolis pop festival and the World Port days. In the years 2005–2011 the city struggled with venues for popmusic. Many of the venues suffered severe financial problems. This resulted in the disappearance of the major music venues Nighttown and WATT and smaller stages such as Waterfront, Exit, and Heidegger. Currently the city has a few venues for pop music like Rotown, Poortgebouw and Annabel. The venue WORM focuses on experimental music and related cutting edge subcultural music. There are also the International Film Festival in January, the Poetry International Festival in June, the North Sea Jazz Festival in July, the Valery Gergiev Festival in September, September in Rotterdam and the World of the Witte de With. In June 1970, The Holland Pop Festival (which featured Jefferson Airplane, The Byrds, Canned Heat, It's a Beautiful Day, and Santana) was held and filmed at the Stamping Grounds in Rotterdam.

There is a healthy competition with Amsterdam, which is often viewed as the cultural capital of the Netherlands. This rivalry is most common amongst the city's football supporters, Feyenoord (Rotterdam) and Ajax (Amsterdam). There is a saying: "Amsterdam to party, Den Haag (The Hague) to live, Rotterdam to work". Another one, more popular by Rotterdammers, is "Money is earned in Rotterdam, distributed in The Hague and spent in Amsterdam". Another saying that reflects both the rivalry between Rotterdam and Amsterdam is "Amsterdam has it, Rotterdam doesn't need it".

In terms of alternative culture, Rotterdam had from the 1960s until the 2000s a thriving squatters movement which as well as housing thousands of people, occupied venues, social centres and so on. From this movement came clubs like Boogjes, Eksit, Nighttown, Vlerk and Waterfront. The Poortgebouw was squatted in the 1980s and quickly legalised.

Rotterdam is also the home of Gabber, a type of hardcore electronic music popular in the mid-1990s, with hard beats and samples. Groups like Neophyte and Rotterdam Terror Corps (RTC) started in Rotterdam, playing at clubs like Parkzicht.

The main cultural organisations in Amsterdam, such as the Concertgebouw and Holland Festival, have joint forces with similar organisations in Rotterdam, via A'R'dam. In 2007 these organisations published with plans for co-operation. One of the goals is to strengthen the international position of culture and art in the Netherlands in the international context.

On 30 August 2019, it was announced by the European Broadcasting Union and Dutch television broadcasters AVROTROS, NOS & NPO, that Rotterdam will host the Eurovision Song Contest 2020, following the Dutch victory at the 2019 contest in Tel Aviv, Israel with the song "Arcade", performed by Duncan Laurence. The contest will take place at the Rotterdam Ahoy, with the semi-finals taking place on 12 & 14 May 2020 and the final taking place on 16 May 2020. This will be the first time that Rotterdam has hosted the contest, and the first time The Netherlands has hosted the contest since 1980, when it was hosted in The Hague.