By "I live for the applause", I think she means that all she wants to do is entertain her fans and make them happy and excited, since we usually applause when we are enjoyng something (a concert or presentation in this case).
By "I live for the applause", I think she means that all she wants to do is entertain her fans and make them happy and excited, since we usually applause when we are enjoyng something (a concert or presentation in this case).