ABSTRACT
This chapter examines the economic aspects of the contemporary radio broadcasting industry. As the oldest form of electronic media, the radio industry has experienced significant changes since its humble beginnings in the early 20th century. Radio did not become a commercially viable medium until advertising was introduced in 1922. Radio became the dominant source of entertainment and information in a pretelevision world, but after the 1940s and the advent of television, radio began a metamorphosis as a medium that continues to the present era.
