The document discusses various audience theories that are important for media students to understand when creating their own media texts. It covers theories such as target audience, demographics, reception theory by Stuart Hall, and uses and gratification theory. Audience theory is useful for media students as it helps them consider how to appeal to and engage their target audience when producing a film or other media text, in order to maximize the text's success. Understanding audience needs, preferences and how they make sense of media is essential for crafting an effective media production.