How many radio stations were locals choosing from? What are the barriers to entry? Where I live, there might be a 10-20 radio stations. It's difficult to start a competing station and bandwidth is presumably tightly controlled.
If the same happened on the net (say, the US government regulated such that only a couple dozen sites could exist), I think you'd see those properties being quite lucrative.
Instead, I can start a web site laden with advertising for free and in minutes. Completely different space prior to the growth of digital radio and online streaming.
If the same happened on the net (say, the US government regulated such that only a couple dozen sites could exist), I think you'd see those properties being quite lucrative.
Instead, I can start a web site laden with advertising for free and in minutes. Completely different space prior to the growth of digital radio and online streaming.