Risk-Based Regulation in the Media Sector

Abstract

Recently, in Europe and elsewhere, a trend towards more evidence-based and risk-based regulation has been noticeable. Such an approach ensures that regulation is applied only where it is needed. In this light, the European Commission’s strategy for media pluralism has shifted from regulating to monitoring. According to the European Commission, the development of a neutral and objective monitoring mechanism could enhance the auditability of media pluralism. This instrument would equip policy makers and regulatory authorities with the tools to detect and manage societal risks in this area and provide them with a stronger evidentiary basis to define priorities and actions for improving media pluralism within the EU. This paper will elaborate on the instrument that has been developed for such monitoring exercises: the EU Media Pluralism Monitor, which functions like a barometer and starts from a risk-based approach.