This paper points to new developments in the context of entertainment theory. Starting from a background of well-established theories that have been proposed and elaborated mainly by Zillmann and his collaborators since the 1980s, a new two-factor model of entertainment is introduced. This model encompasses “enjoyment” and “appreciation” as two independent factors. In addition, several open questions regarding cultural differences in humans’ responses to entertainment products or the usefulness of various theoretical concepts like “presence,” “identification,” or “transportation” are also discussed. Finally, the question of why media users are seeking entertainment is brought to the forefront, and a possibly relevant need such as the “search for meaningfulness” is mentioned as a possible major candidate for such an explanation.