Why are labels suddenly interested in Eurovision?

"Eurovision Song Contest 2019 in Tel Aviv, Israel — the last time the event took place — was broadcast live in 41 countries and watched by an audience of 182 million, making it the world’s biggest live music event" - Billboard explains big labels' new-found interest in the European yearly pop song contest. By comparison, this year’s Grammy Awards drew 9.2 million viewers, whereas February’s Super Bowl, the biggest U.S. television event annually, drew 96.4 million TV and online viewers.