Much has been written about how ‘disinformation’, propaganda, and other deceptive content can be created, spread, and consumed online at an unprecedented rate and with extraordinary reach. Social media’s business model and the way digital advertising works have been increasingly scrutinised as one of the main causes. Yet, ‘disinformation’ online is a complex and multi-faceted phenomenon, which involves actors other than social media companies, such as influencers, legacy media, or advertisers, whose business model and economic incentives also influence how ‘disinformation’ circulates online. This chapter provides an overview of the impact of economic incentives on ‘disinformation’ online, looks at the role each of the relevant actors plays in its spread, and makes some suggestions about how regulatory responses to these issues should be conceptualised.