There has, for the past few decades, been an increasing tendency from states to hold social media and other information intermediaries liable for the illicit or undesirable speech of their users. Much less debated, however, has been the question of intermediary responsibility for the freedom of speech and information of internet users. In the EU, as well as the US, there are no clear legal safeguards for protecting freedom of speech on privately owned networking platforms – albeit the exponential growth of these platforms as spheres for public expression and discourse. This thesis argues that the content moderation practices and policies of some of the largest social media platforms, in several respects, correspond poorly to Swedish and European freedom of speech standards, as established in human rights law. Considering the rationale behind speech rights, as well as the increasing significance of social media for public discourse, the thesis suggests alternative legal measures to establish corporate responsibility and ensuring online freedom of speech.