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Dirigir vs. realizar

While both dirigir and realizar can translate to "to direct" in the context of film and theater, the primary difference lies in regional usage. Dirigir is the standard term in Brazil for all formats, whereas realizar is the specific term used in Portugal for directing films and television.

Dirigir

A2
This is the most common word for directing in Brazilian Portuguese, applicable to movies, plays, and TV shows. The person in charge is called the diretor. In European Portuguese, dirigir is also used, but it often applies more specifically to directing actors in theater, conducting an orchestra, or managing a production, rather than the cinematic creation itself.
O Steven Spielberg vai dirigir o novo filme de ação.
(Steven Spielberg is going to direct the new action movie.)
Ela prefere dirigir peças de teatro a novelas.
(She prefers directing theater plays to soap operas.)
Foi difícil dirigir aquele ator durante as filmagens.
(It was difficult to direct that actor during the filming.)
Quem vai dirigir o episódio final da temporada?
(Who is going to direct the final episode of the season?)
O estúdio contratou alguém para dirigir o documentário.
(The studio hired someone to direct the documentary.)

Realizar

B1
In European Portuguese, realizar is the standard term for directing a film or TV program (translating literally to "making it real"). The director is called the realizador. In Brazilian Portuguese, realizar generally means "to accomplish" or "to fulfill" (like a dream) and is almost never used to mean "directing a movie."
Este filme foi realizado por um cineasta português premiado.
(This movie was directed by an award-winning Portuguese filmmaker.)
O meu sonho é realizar uma longa-metragem independente.
(My dream is to direct an independent feature film.)
Ele estudou cinema para aprender a realizar.
(He studied cinema to learn how to direct.)
A equipa técnica ajudou a realizar a visão do artista.
(The technical crew helped direct (bring to reality) the artist's vision.)
Ela foi a primeira mulher a realizar um programa neste canal.
(She was the first woman to direct a program on this channel.)

Summary

Use dirigir if you are speaking Brazilian Portuguese or referring to theater direction in any region. Use realizar if you are speaking European Portuguese specifically about directing movies or television.