We obtain the effective theory for the non-linear dynamics of black branes both neutral and charged, in asymptotically flat or Anti-deSitter spacetimes to leading order in the inverse-dimensional expansion. We find that black branes evolve as viscous fluids, but when they settle down they are more naturally viewed as solutions of an elastic soap-bubble theory. The two views are complementary: the same variable is regarded in one case as the energy density of the fluid, in the other as the deformation of the elastic membrane. The large-D theory captures finite-wavelength phenomena beyond the conventional reach of hydrodynamics. For asymptotically flat charged black branes (either Reissner-Nordstrom or p-brane-charged black branes) it yields the non-linear evolution of the Gregory-Laflamme instability at large D and its endpoint at stable non-uniform black branes. For Reissner-Nordstrom AdS black branes we find that sound perturbations do not propagate (have purely imaginary frequency) when their wavelength is below a certain charge-dependent value. We also study the polarization of black branes induced by an external electric field.