Audience share refers to the percentage of a specific audience that is tuned into a particular media outlet, such as a television channel or radio station, during a given time period. It helps measure the popularity and reach of that outlet compared to its competitors. For example, if a TV show has an audience share of 20%, it means that 20% of all viewers watching television at that time are watching that show. This metric is crucial for advertisers and media companies, as higher audience shares often lead to increased advertising revenue. By analyzing audience share, companies can make informed decisions about programming and marketing strategies to attract more viewers.