Critical political economy has emphasized the tensions and power relations between global forces and local forces as well as the political and the economic. Since media ownership has become one of the major elements to widening the existing gaps between a few powerful actors and the majority of underprivileged players, critical political economy focuses on the significant role of ownership in media and communication studies. Critical political economy has also continued to emphasize the structural change in media industries in the broader socio-economic milieu. In the early 21st century, critical political economy has shifted its emphasis toward digital platforms, such as over-the-top service platforms like Netflix, social media platforms like YouTube, and search engines like Google, as these digital platforms supported by artificial intelligence algorithms and big data are primary actors in the global cultural industries. They are not only shifting the milieu surrounding cultural industries but also transforming the entire value chain in cultural production, including the production of popular culture, the circulation of cultural products, and the consumption of cultural content. Critical political economy needs to analyze power relations between platform owners and platform users as well as between a few countries in the Global North that possess these digital platforms and the majority of countries in the Global South that, owing to the lack of capital, manpower, and know-how, cannot advance their own platforms. This implies that critical political economy needs to analyze how global digital platforms as part of Western cultural industries have controlled and manipulated local cultural industries. By discussing the change and continuity in the cultural industries in the digital media–driven media environment, which expedites the concentration of the industry, new international division of labor, and platform imperialism practice, critical political economy will shed light on the existing debates about power relations within the broader society.
