A New Media Law in Greece and Its Impossible Impact on the Advertising Market
Updated: Apr 1
Could an entire industry change over the course of a few days just before Christmas? The short answer is yes, and a recent example from Greece demonstrates the power of potentially lobbyist legislative changes that can put an entire sector on its knees.
In his 2020 annual report, chairman of the board of the Hellenic Advertisers Association Grigoris Antoniadis wrote that the industry faced significant challenges over the course of the year, including the impact of the Covid-19 pandemic. One change that occurred in December, however, shook the entire Greek advertising community.
On December 23, 2020, the Hellenic Parliament passed a new law on its last working day. L.4764, especially Article 189 of the new legislative document, didn’t enter debate before being passed directly to the Ministry of Health and signed off into a law. Media experts immediately reacted by claiming the new law resulted from intense lobbying on behalf of media owners.
What exactly changed since then, and why did a single article cause such an uproar within the advertising community?