Digital communication now pervades all spheres of life, creating new possibilities for commodification: personal data and communication are the new resources of surplus value. This in turn brings about a totally new category of threats to privacy. With recourse to the culture industry critique of early critical theory, this article seeks to challenge basic theoretical assumptions held within a liberal account of privacy. It draws the attention to the entanglement of technical and socio-economic transformations and aims at elaborating an alternative framing which takes into account that privacy is not in the first place a pre-political space for individual freedom but a constituted sphere in which social power relations are reproduced in a particularly deceitful way. With recourse to positions of critical theory, this article revisits the conceptual ambiguity of liberation and oppression and looks to draft prospects for a socio-theoretical justification and critique of privacy, updated for the digital age. Following the tradition of critical theory, the argument focuses on (new) forms of domination in and by privacy. It aims to prepare the ground for a critique of the social’s increasing commodification as well as an idea of privacy understood as reflexive participation in social practices.