Obviously created by Hollywood to bridge the PG - R gap. A pure money making rating.

Increasingly, PG-13 films have more language (including the once-forbidden f-word), more sexual inneundo, and more other objectionable content than before. Austin Powers, for example, should be slapped down hard with an R rating. On the other hand, there are other great PG-13 films like Men in Black 2 and Star Trek: First Contact with very little objectionable content. On the whole, though, not many PG-13 films are that good.

I have seen a few so called PG-13 films, that are alot more closer to R than PG-13.