Media is now central to how youth form their identities. Media also shapes the cultural background of much of young people's action and decision making and the institutional framework of social interaction. This article explores this mediated "lifeworld" of young people by examining rates of current media use and the infiltration of media into conventional forms of socialization such as schools, family, and peers. The authors argue that increasing media use coincides with a larger structural shift to an information-based society wherein social relationships are constituted and reinforced through a cycle of "networked individualism" and growing "risk" among youth. The authors illustrate the cycle of media use, individualization, and risk by briefly examining (a) rising economic insecurity among all Americans and American youth in particular, and (b) the contradictions minority youth face in navigating structural barriers to achievement. The authors conclude by discussing the implications of their work and suggesting policy directions for youth in a media-saturated society. (Contains 1 figure and 3 notes.)