Portuguese media reports that RTP lost a total of 4 million Euros from hosting the Eurovision Song Contest 2018 in Lisbon.
Dinheiro Vivo reports that after a 20 million Euro investment in hosting the Eurovision Song Contest 2018, RTP has recorded a loss of 4 million Euro from the event. According to the report RTP spent 20 million Euro on organising and hosting the event, while ticket sales, advertiser revenue and sponsorship only brought in 16 million Euro.
The 4 million Euro loss comes at the same time as the Portuguese broadcaster spent 12.6 million Euro on the rights to the 2018 World Cup and only brought in around 7 million Euros in revenue from the competition.
The Union representing a number of workers at RTP has been demanding an audit of the broadcasters finances following the loses. Gonçalo Reis the Head of the Board of Directors at RTP commented;
the situation of this year is very complicated and that the budget is tight and must be managed rigorously after investing in the Eurovision Song Contest and the World Cup.
RTP is not the first host broadcaster to have financial pressures as a result of hosting the Eurovision Song Contest. In 2010 NRK of Norway was forced to sell of its rights to the World Cup in South Africa to afford hosting the Eurovision Song Contest. Other participating nations have also cited the cost of sporting events such as the Olympics or World Cup as a reason for withdrawing from Eurovision contests.
Source: ESC Portugal