Lecture | Lunch Research Seminar
The private and public sides of Weibo: combining economic and political economy perspectives
- Date
- Thursday 17 April 2025
- Time
- Location
-
Lipsius
Cleveringaplaats 1
2311 BD Leiden - Room
- 2.02
Registration
All are welcome, however please register in advance at l-peg@hum.leidenuniv.nl to receive a copy of the paper and lunch.
Abstract
Both the mass media and social media face the dilemma of balancing profit-making and public-serving pursuits. Under the global capitalist structure, market performance indicators and the related epistemologies prevail, while the recognition of media’s relevance to public interests is not well developed under mainstream media economics. In this study, I propose to add a pragmatist spin on critical analysis of social media platforms, using the China-based microblogging platform Weibo as a case study. The empirics-informed part of this research will look into the current financial performance, business models, and ownership structure of the company, situated within the political-economic environment of the internet industry in China (the ‘private’ and ‘state’ nexuses). The theory-informed part will discuss the ‘publicness’ of social media with the ‘public goods’ strands of economic and public finance theory (the ‘public’ nexus). Finally, I will reflect on the extra-economic value of ‘public and social life’ afforded by the platform within the market society using Polanyi’s (1944) ‘embeddedness’ concept. Methodologically, I plan to analyze Weibo’s annual reports (2019-2023), industry research reports and statistics released by third parties and state organizations (e.g. State Information Center), and news coverage. I argue that contrasting the public and commercial orientations as zero-sum does not sufficiently recognize the adaptive need to survive in the market competition within the tightening political environment. I propose to view the blending roles of this privately-owned social media in achieving commercial interests, being a vehicle for state interests, and serving public/civic interests not as conflicting but as a pragmatist strategy to keep this platform afloat.