diff --git a/xblocks_contrib/annotatable/annotatable.py b/xblocks_contrib/annotatable/annotatable.py
index 3e698d1a..e6a44365 100644
--- a/xblocks_contrib/annotatable/annotatable.py
+++ b/xblocks_contrib/annotatable/annotatable.py
@@ -246,6 +246,28 @@ def workbench_scenarios():
             ),
         ]
 
+    @classmethod
+    def parse_xml_new_runtime(cls, node, runtime, keys):
+        """
+        Interpret the parsed XML in `node`, creating a new instance of this
+        module.
+        """
+        # In the new/openedx_content-based runtime, XModule parsing (from
+        # XmlMixin) is disabled, so definition_from_xml will not be
+        # called, and instead the "normal" XBlock parse_xml will be used.
+        # However, it's not compatible with RawMixin, so we implement
+        # support here.
+        data_field_value = cls.definition_from_xml(node, None)[0]["data"]
+        for child in node.getchildren():
+            node.remove(child)
+        # Get attributes, if any, via normal parse_xml.
+        try:
+            block = super().parse_xml_new_runtime(node, runtime, keys)
+        except AttributeError:
+            block = super().parse_xml(node, runtime, keys)
+        block.data = data_field_value
+        return block
+
     @classmethod
     def definition_from_xml(cls, xml_object, system):
         if len(xml_object) == 0 and len(list(xml_object.items())) == 0: