Eurovision is not only an amazing show with fierce competition, but also a big business, that benefits the artists, host countries, mobile, and TV companies.
According to the rules, the host country “invests” only partly (first of all, in location, hotels, roads, etc). The major part of the expenses is covered by “The big 5”- UK, France, Spain, Germany and Italy. The participation fee is decided upon the state of economy, population and other factors of the country.
During these years, the most expensive contests have been held in Copenhagen in 2014 ($60M), Baku in 2012 ($46M), Moscow in 2009 ($44M). There were cases, in Russia for example, when hosting Eurovision is unprofitable. The opposite picture was seen in Malmo: in 2013 spending less than 10M euro, the city earned much, much more in return. Around 32 000 people visited Malmo, and the turnover of the tourism business has grown up to 21M euro.
But this is an exception because countries very often refuse to participate because they will not be able to host the contest financially in case they win. Sometimes, the EBU itself bans the country from participation. That happened, for example, with Romania, because of its 14.5M-euro debt, which has been accumulated during the previous 10 years.
We can assume that not only the winners but also the participants have all the chances to raise their “costs,” since there’s no better place for self-advertisement than the Eurovision stage. A competing performance on the Eurovision stage can increase their price up to 5-10 times (temporarily).
A news source revealed that Eldar Gasimov, who represented Azerbaijan with Nikki in 2011, was allegedly earning around 1000 dollars per performance before the victory, and then started charging up to 25 000 dollars per performance.
The same story happened with Emmelie de Forest from Denmark (2013 winner). Before Eurovision, 19-year-old Emmelie was singing only for herself, she started earning around 50 000 dollars per performance after the victory.
But of course, one of the boldest winners in the history of the contest was Conchita Wurst, “the woman with a beard.” According to Celebrity Network, the cost of her performance can reach up to 150 000 dollars, but she can sing for free too, if she likes the event.
We think there is a tiny little word missing in the name of the contest. In line with the words “Song” and “Political,” please, give it a warm welcome – Eurovision Business Contest.