Two studies examined inferences drawn about the protagonist's emotional state in movies (Study 1) or audiobooks (Study 2). Children aged 5, 8, and 10 years old and adults took part. Participants saw or heard 20 movie scenes or sections of audiobooks taken or adapted from the TV show Lassie. An online measure of emotional inference was designed that assessed the ability of the participants to understand the main protagonist's emotional state. The participants' emotional knowledge and media literacy were assessed as further variables. The results of the studies provide evidence that children from the age of 5 build emotional inferences when both watching movies and listening to audiobooks. A developmental trend exists with regard to the precision of the emotional inferences. Media literacy and emotional knowledge differed in terms of their influence on the ability to generate inferences, which was dependent on the age of the participant and the presentation mode.