diff --git a/core/modules/media/media.module b/core/modules/media/media.module
index 706b5cb..28d3094 100644
--- a/core/modules/media/media.module
+++ b/core/modules/media/media.module
@@ -12,6 +12,7 @@
 use Drupal\Core\Session\AccountInterface;
 use Drupal\Core\Url;
 use Drupal\field\FieldConfigInterface;
+use Drupal\Component\Plugin\Factory\DefaultFactory;
 
 /**
  * Implements hook_help().
@@ -114,3 +115,67 @@ function template_preprocess_media(array &$variables) {
     $variables['content'][$key] = $variables['elements'][$key];
   }
 }
+
+/**
+ * Implements hook_ENTITY_TYPE_presave().
+ */
+function media_field_config_presave(FieldConfigInterface $field) {
+  // Don't change anything during a configuration sync.
+  if ($field->isSyncing()) {
+    return;
+  }
+
+  // If this field formatter has not been configured yet, set the defaults to
+  // something more appropriate than the entity label. In our case, the
+  // source field.
+  if ($field->getSetting('handler') !== 'default:media' || empty($field->getSetting('handler_settings')['target_bundles'])) {
+    return;
+  }
+
+  // If there are multiple target bundles allowed, we can't assume which field
+  // to use.
+  if (count($field->getSetting('handler_settings')['target_bundles']) > 1) {
+    return;
+  }
+
+  $field_name = $field->get('field_name');
+  $media_bundle = array_keys($field->getSetting('handler_settings')['target_bundles'])[0];
+  $display = entity_get_display($field->get('entity_type'), $field->get('bundle'), 'default');
+
+  // At this point the display is already created and the formatter defaults
+  // were populated for this field type. It's tricky to reliably detect if the
+  // field is really new or just being edited. For now, we assume that if the
+  // field is not being used in any content, we can go ahead and set its display
+  // settings to the media source's defaults.
+  $num_entities = \Drupal::entityQuery($field->getTargetEntityTypeId())
+    ->condition('type', $field->getTargetBundle())
+    ->condition($field_name, NULL, 'IS NOT NULL')
+    ->count()
+    ->accessCheck(FALSE)
+    ->execute();
+  if ($num_entities > 0) {
+    return;
+  }
+
+  /** @var \Drupal\media\MediaTypeInterface $media_type */
+  $media_type = \Drupal::entityTypeManager()->getStorage('media_type')->load($media_bundle);
+  $source_field_name = $media_type->getSource()->getConfiguration()['source_field'];
+
+  // Use the default formatter + settings for the source field's type.
+  $source_field_type = $media_type->getSource()->getSourceFieldDefinition($media_type)->getType();
+  if (empty($source_field_name) || empty($source_field_type)) {
+    return;
+  }
+  $field_type_info = \Drupal::service('plugin.manager.field.field_type')->getDefinition($source_field_type);
+  $source_field_formatter_type = $field_type_info['default_formatter'];
+  $source_field_formatter_settings = \Drupal::service('plugin.manager.field.formatter')->getDefaultSettings($source_field_formatter_type);
+  $display->setComponent($field_name, [
+    'type' => 'entity_reference_field',
+    'settings' => [
+      'field_name' => $source_field_name,
+      'type' => $source_field_formatter_type,
+      'settings' => $source_field_formatter_settings,
+      'label' => 'hidden',
+    ],
+  ])->save();
+}