Audience research applies to things such as radio and TV stations, newspapers, other print media and art companies etc. There are two main things that audience research can achieve; estimation of audience sizes and discover audience preferences. You need to find these two things out so that whether it's a radio station or a newspaper, they're successful and appealing to the audience they need to. You have to find out your audience first so you can then build your product/show around them as they will be the main one's watching it out of all the categories.
Radio and TV stations are the only industry that cannot accurately count it's audience. However things such as a newspaper will always it's paid circulation. There is no way of counting how many people tune into radio and TV stations without audience research.
Audience and Market research both share a similar body of methods.
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