Introduction. European Public Service Media (PSM) faces today challenges regarding innovation, legitimacy and funding. This paper analyzes the evolution of European PSM funding between 2010 and 2016, considering its need for legitimization and update of the different funding models within the EU. Methodology. We analyzed the evolution of the budgets of the European PSM in relation to inhabitants, households and GDP in terms of purchasing power parity. Results. The results confirm the impact of the economic crisis on the budgets of the European PSM. Two triennials can be identified: the first one (2010)(2011)(2012)(2013), marked by budgetary constrictions (-4.1%), and the second one (2013)(2014)(2015)(2016), which shows a slight recovery (4%). We also highlight the differences between Northern and Southern Europe. Conclusions. Ultimately, we conclude that a reformulation of the European PSM business models is required in order to achieve greater stability, adequacy and legitimacy.