Why is there no match for 3rd place for the UEFA Euro 2020?

Question

Today I turned on the TV and wanted to watch the game for third place on the Uefa Euro 2020 between Spain and Denmark, but there was nothing. Why is there no match for 3rd place?
Last Fifa World Cup (WM) 2018 in Russia, Belgium and England faced each other, and Belgium won 2:0 (1:0).
After doing some research, I found out that there was also no match for 3rd place at the last Uefa Euro 2016 in France. But why? Is the 3rd place not important and crucial to make out for the Uefa Euro?

F1Krazy · Answer

The European Championships used to have a 3rd-place playoff, but it was discontinued after Euro 1980. Attendance was poor (24,652 spectators in a stadium that could hold 81,000)*, and according to The Athletic, TV viewing figures were also disappointing. As a result, UEFA decided there simply wasn't enough interest in the playoff to justify continuing to hold it.
It should be noted that attendance was poor throughout the tournament, but host nation Italy (one of the teams in the 3rd-place playoff) had consistently attracted crowds of 40-60,000 during the group stages. For their third-place playoff match to experience such a massive drop in attendance convinced UEFA that people simply didn't care about its outcome.

Why is there no match for 3rd place for the UEFA Euro 2020?

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