PBS claims 120% increase in advertising revenue through Eurovision 2016 participation

The Board of Directors of Public Broadcasting Services has claimed that the Eurovision song contest 2016, has left the company with a 120% in advertising revenue and sponsors who endorsed their commitment in the project mainly focused on the artist Ira Losco, compared to previous years.

“This substantial increase was achieved after many years, and without the necessity to rely on Government’s Funds which form part of the Public Service Obligations (PSO),” a statement by PBS reads.

The claim by PBS comes after local media reported last week that this year’s Eurovision entry by local favourite Ira Losco had a “limitless” budget, to try and boost the performer and her chance of winning

The statement goes on to point out that the additional income “consolidates the self-financing and auto-sustainability policy adopted by PBS.”

PBS added that an analytical review of the expenditure and revenue from the various commercial activities linked to Malta’s participation in this international event results in a positive contribution towards the profitability of the company in a holistic manner.