Changes In The Greek Media And Advertising Landscape

The very recent law No 4279/2014 has introduced a radical change in the Greek advertising business model and more specifically in the invoicing process of printed and broadcast advertisements.

Up until today, the media usually invoiced the advertisers not directly, but through their advertising agencies. This practice has led to a complicated system of bonuses that the media, and particularly TV channels, offered both to advertising agencies and advertisers. More specifically, advertising agencies received the "year end rebate" (amounting up to 9,9% of their annual advertising volume) and advertisers received - through their agencies - the "year end advertising volume bonus" (usually in the form of credit notes).