A significant number of companies operates in the Greek advertising market, although their number has been reduced in the last few years. The sector includes Advertising agencies, Media Specialists, Outdoor Advertising operators and Screen Advertising agencies. Most of the businesses concerned are exclusively engaged in advertising activities, while some companies are active in other areas, such as sales promotion, public relations etc. These actions are classified as «below the line» activities and often performed by affiliated enterprises. The industry suffered a sales collapse especially in the period 2009-2012, when the market lost almost 2/3 of its value. The dramatic decline of the industry resulted in the bankruptcy of several companies which were unable to cope with the new market environment.
Specifically, the advertising expenditure in Greece fell at an average annual rate of -24.3% during 2008-2012. The advertising market was stabilized in 2013, showing a marginal annual increase of 0.8%, while in 2014 the increase was higher and stood at 4.0%.
Advertising expenditure on television covered 58.5% of total advertising expenditure in 2014. The magazines held a share of 16.3%, newspapers accounted for 13.3% and radio is estimated to cover 9.6%.