The existential stakes of platform governance and online content regulation: a critical conceptual model

This study introduces a comprehensive yet non-exhaustive overview of literature concerning the concepts of regulation and governance, and attempts to connect them to scholarly works that deal with social media platforms’ content regulation. The paper provides fundamental definitions of regulation and governance, along with a critique of polycentricity, in order to contextualise the discussion around platform governance and online content regulation. Regulation is framed here as a governance mechanism within a polycentric governance model where stakeholders have competing interests, even if sometimes they coincide. Moreover, where traditional governance literature conceptualised stakeholders as a triangle, this article proposes imagining them as overlapping circles of governance clusters with competing interests, going beyond the triad of public, private and non-governmental actors. Finally, the paper contends that that there exists a timely need to reimagine the way in which we understand and study phenomena appertaining to public discourse by adopting the platform governance perspective, which is framed as the advancement of internet governance. Finally, the article ascertains to study the governance of online content and social media platforms not as a sub-section of internet governance but as a conceptual evolution with existential stakes.