The journalism-audience relationship is a key research topic within communication and journalism studies. Digitalization, which has transformed the relationship, has made it even more relevant to both journalism practice and research. There is a large body of literature that examines how the relationship between journalism and its audience has changed, what the mutual expectations are, and how the audience can actively participate in journalism. However, profound theoretical conceptualizations of the journalism-audience relationship are scarce, especially in relation to a digital media environment. Based on a systematic theoretical review, we compare different theoretical conceptualizations of the journalism-audience relationship in the digital age that are currently in use, and how they can be characterized and classified. Our analysis identifies six main theoretical approaches: (1) discursive, (2) expectation-based, (3) network-oriented, (4) technological, (5) parasocial, and (6) strategic-organizational conceptualizations. The literature review provides insights into how the multifaceted relationship between journalism and its audience is captured and described, and raises important questions for future research.