Main Points

Radio started out as point-to-point communication, much like the telephone and telegraph. The notion of broadcasting didn't come about until the 1920s.
The decade of the 1920s was an important one in radio. Big business took control of the industry, receivers improved, commercials were started, networks were formed, and the FRC was set up to regulate radio.
The coming of TV forced local stations to adopt formats, such as Top 40 or country.
FM became the dominant form of radio in the 1970s and 1980s. Sparked by a loosening of ownership rules, a wave of consolidation took place in the industry during the 1990s.
Radio is moving slowly into the digital age. Satellite radio and Internet radio are two digital services that will compete with traditional radio.
Radio programming is provided by local stations, networks, and syndication companies.
Stations have refined their formats to reach an identifiable audience segment.
The current economic picture of the radio business is positive. Most radio revenue comes from local advertising. Big companies now dominate large-market radio.
National Public Radio is the best-known public broadcaster.
Radio audiences are measured by the Arbitron Company using a diary method. The demographic characteristics of the radio listener vary greatly by station format.

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