The most powerful force in a market economy is the consumer. At the heart of any democratic government are the people. Thus, technological change, industries or institutional factors, regulation and government intervention are all trumped by the power of audience demand. In the 1920’s radio was what television was during the 1960 (the 60’s as oppose to today because TV is less significant today with all the alternatives available such as the internet, movies, netflicks, etc). It served as the primary source of news, entertainment (radio shows), and eventually music. At one point in our nations history, the radio acted as the dinner table in the sense it brought the family together on a daily/weekly schedule as seen in the film Radio Days. This love that people shared for radio was the primary force driving industry, which in turn drove technology to improve.
The devotion of a mass audience on a regular schedule was a marketers dream. This led to advertising agencies producing their own radio programs for commercial sponsors interested in selling consumer goods, and the development of integrated advertising. All of which lead to the development of radio as we know it.
Ok, so this is a perfect example of audience demand forcing technology to meet the demands of the public (whom happen to hate commercials and the repetition of the same songs). Is this the future of radio?
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