This chapter explores the notion of an ideal European co-production, focusing on bridging cultural and industrial priorities in European cinema and integrating audience-centric approaches into co-production strategies. The chapter begins by examining the traditional definitions of European cinema, which oscillate between auteur-driven artistic freedom and critiques of elitism that hinder accessibility and audience engagement. Drawing on Pierre Bourdieu’s concept of middle-browMiddle-brow art and Tomás Gutiérrez Alea’s “viewer’s dialectic,” the chapter argues for a synthesis that balances artistic, cultural, and market-oriented goals. Using the interpretive policy analysis framework, the chapter analyses perspectives from three interpretive communities: policymakersPolicymakers, practitionersPractitioners, and audiences. While policymakers and practitionersPractitioners emphasize regulatory compliance, production quality, and festival visibility, the chapter critiques the lack of sustained audience engagement. It introduces audience design as a practical methodology for fostering deeper connections between European films and diverse audiences. This approach challenges filmmakers to anticipate audience needs, engage with audiences throughout the value chain, and balance identification with estrangement to create socially impactful works. The chapter concludes by advocating for redefining “the ideal European co-production” to prioritize audience relevance alongside cultural and regulatory achievements, ensuring that European films resonate meaningfully with their intended viewers across the continent.