A lecturer at the Mainor Business School in Estonia has proposed an innovative model of funding to raise the 65,000 Euro needed for Elina Nechayeva’s projection dress for Eurovision 2018.
The Estonian news portal Delfi reports that Elari Tamm of Mainor Business School (Eesti Ettevõtluskõrgkool Mainor) has suggested that Estonian broadcaster ERR should allow private investors to contribute funds towards the dress. As previously reported, the Estonian Head of Delegation, Mart Normet, is currently in the process of speaking to various agencies in Estonia to raise the money which is needed to take Elina’s dress, which she used in the Eesti Laul final, to Lisbon.
Mr Normet noted that Elina is one of the favourites to win the contest and that it is important that Estonia capitalises on this. Mr Tamm agrees. He said:
“It’s hard for the state to explain the cost of spending 65,000 euros on the song contest. The contest may seem like light entertainment, but in fact it’s one of the bigger ones for the nation’s marketing. If the victory is to come to Estonia, this is a great opportunity for nearly 200 million television viewers to advertise Estonia as a destination.”
Mr Tamm therefore suggests that ERR should allow investors the opportunity to make a contribution towards the dress in return for a potential payout based on the Estonian odds to win the contest. Therefore, he suggests that (assuming odds of 10/1) if an investor were to cover the entire cost of €65,000, they could expect a €650,000 return. Mr Tamm says that this is “not a big deal at all” given the national annual spend on marketing.
It remains to be confirmed if ERR will find the money to spend on Elina’s dress and, if they do, whether the investment will pay off in Lisbon. The Estonian entry, “La Forza” remains one of the favourites to take the trophy in Lisbon, although it has recently fallen back to fifth place in the betting market, behind Israel, Bulgaria, Czech Republic and Australia.
Estonia in the Eurovision Song Contest
Estonia debuted in the Eurovision Song Contest in 1994 alongside six other countries. At the contest in Dublin they were represented by Silvi Vrait, who finished 2nd last scoring just 2 points. In 2001 Estonia won the Eurovision Song Contest for the only time to date. They were represented by Tanel Padar, Dave Benton & 2XL, who performed the song “Everybody” and took a surprise victory in Copenhagen. After the success of the late-90s and early 00s, Estonia failed to qualify for the final from 2004-2008. In 2009 Estonia launched a new selection show, Eesti Laul, and has since qualified for the final five out of nine attempts.