The purpose of this article is twofold: to consider whether and how the European Union has a strong influence in global audiovisual politics and economy and to analyse whether the United States keeps playing a key role in global audiovisual flows or its domination is challenged by the European Union or other countries. These two purposes are analysed in the light of the rise of global online platforms, seen as the new dominant development in the audiovisual industry. In order to understand the European Union role and influence, the article highlights three interlinked factors: European/internal audiovisual policies, market profile and foreign audiovisual diplomacy. In the end, the article examines the competition that European Union faces in the global film economy, focusing notably on the US/Hollywood, China, India and global online platforms.