Abstract: The subject of this research is the Internet meme as a phenomenon in modern culture, while the object is the study of global Internet environment for the existence of this phenomenon. The author explores the role of the Internet meme in culture in the context of globalization and Internet development; communication function of the Internet meme in modern society; as well as the use of Internet memes as informational and semantic signals that affect the existing media markets. Special attention is given to interrelation between the Internet meme as a cultural object and the Internet as a global environment for people’s communication worldwide. The main conclusions lies in determination of the role of the Internet meme in the modern social life, as well as its place in the cultural sphere. The author's special contribution lies in description of the mechanisms of impact of the Internet memes on media markets, as well as the market and information field of news, advertising, marketing, and propaganda. The relevance of this work is defined by the analysis of emergence of the Internet meme not only as a result of creativity, but also as a commercial product and means of information manipulation. The novelty of consists in examination and analysis of such aspects of the Internet memes as a phenomenon that have become significant in the last few years, which is proven by the active attention paid of businesses and the government.