RTP Announce Loss Over Hosting Eurovision
Today is has been reported via Portuguese financial magazine Dinheiro Vivo, Eurovision 2018 host broadcaster RTP has made a loss in the region of four million euros over the organisation of the contest.
Despite Eurovision 2018 costing 20 million Euros in total, the show only made 16 million back in revenue, citing in an four million loss or the broadcaster, RTP's finances were also called into question when it revealed they spent 12.6 million Euros on rights to broadcast the World Cup in the summer, where Portugal made the final 16:
The Workers Committee stated that the spending required:
"A financial effort that conditions the RTP universe and the strategic choices would affect the future of the workers"
The broadcaster has issued a response which as follows:
"The situation of this year is very complicated and that the budget is tight and will have to be managed with rigor after the investment in the realisation of the Eurovision Song Contest and the Football World Cup."
This is not the first time a broadcaster has made a loss over hosting the contest, back in 2014, DR went over budget hugely on hosting the contest in Copengahgen.