How do platforms matter? Media power, platform power and the digital domination of Australian media

This paper examines how digital platforms have come to embody a new form of media power, reshaping the Australian media economy and challenging traditional understandings of media influence. While legacy media power was grounded in content ownership and political influence, platform power today stems from infrastructural dominance, algorithmic control, and the commodification of user data. Drawing on the concept of the network media economy, the paper explores how tech giants like Alphabet and Meta have overtaken traditional Australian media firms in advertising revenue and market influence. Using metrics such as Concentration Ratio (CR4) and the Herfindahl–Hirschman Index, the paper demonstrates the extreme consolidation within digital services sectors. It also considers the political implications of this shift, highlighting how platform companies are increasingly influential in shaping public discourse and policy, both directly and through their economic leverage. The paper argues for a reframing of media power that encompasses both traditional and emerging forms of dominance, urging policy responses that reflect the integrated, multi-sectoral nature of today's media landscape.