This study aims to investigate different approaches to the definition of "media literacy" and "information literacy"; to give their comparative analysis. In particular, it is emphasized that information literacy deals with the importance of access to information, assessment and ethical use of information and media literacy – with the ability to understand the importance of media functions, to assess how these functions are implemented and to use media effectively for self-expression and self-realization. The phenomenon of media convergence and its types are considered. Two approaches that define the relationships between information competence and media competence are provided. In the study, we focus on the transition from digital and audiovisual to media competence at three levels (knowledge, awareness, realization) through 10 activities (access to information, language, technology, production process, media industry, ideology and values, reception and comprehension, citizen involvement, production, communication). The differences of terms media literacy and media competence are clarified using Ukrainian and foreign scientists’ research and backed by UNESCO documents. Media competence functional content is analyzed. The article centers around the idea that the primary goal of media education is media competence formation and critical thinking as well.