For a paragraph, we'd need to add in audience reaction to predict what a modern and contempary audience may be feeling as they read/watch this.

Epekto sa audience or bunga sa tagapakinig.

Not necessarily. I believe the 'audience' of a written work is the person reading it. Thus, when people speak about writing for your audience it means to consider who you want to read your work.

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Yes, you believe correctly - that is the accepted definition here.

the lion king musical is family show, audience of the lion king are parents and children.

I love them, but they are high in sodium.