2023 Eurovision: A Weird, Wonderful and Costly Event

That extravagant, wacky and unique music event, Eurovision, took place over the weekend in the storied music city that is Liverpool, UK.

That extravagant, wacky and unique music event, Eurovision, took place over the weekend in the storied music city that is Liverpool, UK.

Hosting in place of Ukraine, for obvious reasons, the UK put on a classic Eurovision event that consisted of the usual, cheesy Europop, weird and wonderful costumes and choreography, but also a strong anti-war message in a show of support for the embattled, Ukraine. 

With such glamourous excess, the question arises: how much did the 2023 Eurovision Song Contest cost? And, more importantly, is it worth it? 

While the exact cost is unknown, initial estimates put the spend at around US $30 million (AU $45M) for the entire event.

As host broadcaster, the BBC is estimated to have spent US $10 to $21 million, while the U.K. government reportedly threw in a further US $12 million.

This is in addition to ticket sales, sponsorship deals, revenues from online platforms and contributions from Liverpool City itself, which is estimated to be US $5 million.

And where do these costs get distributed? 

According to the official Eurovision website, 90% of funds go towards the TV production and the event organisation while 5% covers the European Broadcasting Union’s (EBU) Eurovision Song Contest team and its partners. 

As to whether putting the 2023 event on was all worth it for the UK, Director of Culture at Liverpool City Council, Claire McColgan, has answered rather emphatically.

“Tourism in Liverpool is worth 47% of our economy. So this isn’t chicken feed for us, this is really, really important.” 

 

 

This Week’s News

News

22 November 2023

Rare Earths Industry Review: Part 2

News

22 November 2023

Rare Earths Industry Review

News

22 November 2023

World first left ventricle heart failure device gears up for approval

General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG)

including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.