This is a mistake something so many people (myself including) make, and it's something needed to clear up.

1. My Little Pony: Friendship Is Magic has two market audiences: little girls for the toys, families for the animation. A market audience is an audience to attract to, and Hasbro wants to attract families and children to Friendship Is Magic.
    
   Little girls are not Friendship Is Magic's target audience. Kids are never a target audience.
    
   Why?
    
   How will they get the money to buy the product or get the "okay" to watch the animations when it's the guardians who are responsible for safekeeping the money and deciding where the money goes?
   
2. If you are a guardian for a child, raise your hand.
    
   The kids' guardians are the target audience for Friendship Is Magic. In other words, the kids' parents, babysitters, older siblings who can live on their own and afford an income, nannies, or any other guardian you can think of. They are the ones who will review the product to see if it's appropriate for the kids to buy. If they decide it is, they'll buy the product, record the animation, and hope their kids like it enough to follow.
    
   If you're a guardian to a kid, then you're FIM's true target audience.
   
3. Equestria Girls's target audience is the same as Friendship Is Magic, but its market audience is adolescent girls/tweens. People ages ten to fourteen are who Hasbro wants to attract. It's a different age range compared to the main series.
   

Market audience = attracts. Target audience = sells. Often, they intertwine, but they're not the same.