Whether it's entertainment, education or news, people are inclined towards using the internet for almost all purposes and hence the number of listeners of radio and FM is gradually on decline. There is a gradual decline in the number of people searching for radio station names online because they are becoming more and more dependent on the internet. If we pay attention to the revenue of popular radio stations in the USA, we will find that many top radio stations are facing losses.
Even radio discussion groups and forums are becoming less active now a days.There is still a competitive potential left in operating a radio station but it requires much more strategic planning now. The trend of internet radio stations is growing because it takes less amount of money and hence the risk is low. Further, it is also easier to technically operate an internet radio station.
Entertainment is an evergreen content for the radio industry and the popular FM channels have most of their content based on movies, songs and comedy shows. The entertainment industry is highly saturated and hence in order to successfully operate a radio station, you must come up with unique programs and marketing strategy. You can take the help of crowd funding platforms if you are short of budget for opening a radio station.
Another way to raise budget for your radio station is to reach out to local sponsors and sign an advertising agreement with them. In order to understand the subtle details of operating a radio station, you must join a radio station for at least 6 months to become familiar with the working of it. There are also specialised agencies which can help you in setting up a radio station and in procuring all the documents which are required for licensing. The licensing criteria for opening a radio station varies from one region to another and hence you must carefully understand these requirements.