This article explores institutions that monitor news media performance. It opens up critical inquiry into how knowledge about media systems is shaped, shared, and bounded in society. Using Sweden as an illustrative and data‐rich case, we first map the overall media monitoring structure in Sweden. Second, we examine the kind of knowledge and data about media that monitoring institutions produce, including their motives and the underlying values they support. Third, we extrapolate questions about implicit and explicit motives to participate in an “information regime.” Fourth, by means of media system theory, we discuss the international relevance of the Swedish case to understand media monitoring systems in other parts of the world.