AVCANADA

The organization will use this opportunity to fast track the technological advancements currently in the making which would further improve the already high levels of safety.

There is a need to revise the main organization and commercial areas to realize the full potential of the sport including the development and reinforcement of strong host city partnerships which would secure a long term race calendar.

obviously there is something more to this.

With the state of finances in Hungary, and Portugal, let's just say there was some "creative" new red tape, and fees that they required to race there, and Red Bull wasn't going to do it.
Better to cancel, and find other countries for next year than to give in to their new "fee schedule".

....... Im sure they'd make it back in revenues.

Uh, okay, sure. I highly doubt this thing pays for itself as it is.

Do you have any concept of how expensive it is to run just an ordinary air show? Well if you do, add a few zeroes to the end. This traveling road show of theirs must cost an absolute bloody fortune to put on.

The revenue they get directly from the event (ticket sales, selling broadcasting / advertising, etc) wouldn't even scratch the surface. The rest is surely advertising budget from Red Bull - and that's a hell of a lot of energy drink to have to sell. I'm sure this events remaining days / years are numbered as it is. The marketing people will eventually crunch the numbers and get the result that tells them 'this has been done to death', and they'll move onto other 'extreme' events to flog their brand. Maybe something like surfers jumping sharks.