“The Greek Media at the Intersection of the Financial Crisis and the Digital Disruption”
Papathanassopoulos, S. (2020) “The Greek Media at the Intersection of the Financial Crisis and the Digital Disruption”, pp.131–142. In Anastasia Veneti, Athina Karatzogianni (Editors) The Emerald Handbook of Digital Media in Greece: Journalism and Political Communication in Times of Crisis. Bingley: Emerald Publishing. doi:10.1108/978-1-83982-400-520201029
Greece provides another, although timid, example of how financial crisis and the technological advancements have affected national media systems. In the media sector, the recent financial crisis brought major losses of advertising revenues, while telecommunication companies have entered the field providing the Greeks with triple play services at lower rates. But in one way or another, the main players have remained the same. This chapter aims to describe the new conditions in the Greek media sector and to highlight the consequences of the fiscal crisis in terms of sales, profit losses, decreased advertising spending, salaries and emerging costs. It will also attempt to document that although important players in the field lost power, although media changed hands, the majority of media owners still come from other sectors of the economy, principally in shipping, energy, constructions and sports.