The cultural and creative industries (CCIs) have become an integral part of the global economy as production and consumption is increasingly organized through global value chains (GVCs). Yet, the GVC literature is yet to fully understand the structure and dynamics of the global CCIs. This chapter outlines the key features and trends of the global CCIs, and discusses the way a GVC approach can provide an advanced understanding of globalization in the CCIs, compared to other existing explanations. Based on the recent GVC studies on the audio-visual sector, the chapter discusses the major emerging themes regarding governance and upgrading in the global CCIs: (1) the enduring power asymmetry of global buyers and local producers; (2) governing ‘glocal’ value chains; (3) the role of relational capital in GVCs; and (4) suppliers’ strategic choices. The chapter concludes with a discussion of future directions for the GVC study on the global CCIs.