Andrew Goodwin's theory of music videos identifies five key aspects: 1) The relationship between the lyrics and visuals, such as characters mimicking lyrics. 2) The narrative and performance, with the artist acting out the song. 3) The star image as the protagonist and focus of camera shots. 4) Technical elements like lighting, effects, and cuts that enhance the mood and rhythm. 5) Analyzing the song structure and voice to understand the story being told. The visuals should illustrate this story and promote the song.