Very good point. Either way you look at it, it looks like difficult times are on the horizon for Entercom in Seattle. We all knew that this would happen, though...
It only starts here. Buckle up.
It's not just with Entercom. You'll be seeing a lot more of this in the coming years from everybody as the radio conglomerates further push towards streaming/podcasts. More internal consolidation of positions, more operations from home based studios/offices via a centralized system. (COVID-19 has really opened some doors. And the "data cap" myth has been blown. By the ISPs themselves. So another genie is loose.)
iHeart already has paid premium plans (scroll down their web page.) In a few years, there may not be any local radio cluster buildings at all and everything is off some central server somewhere (with localized inserted content and advertising.)
There will also come a time when ad agencies and consumers will demand more from radio than the terrestrial medium itself can give technically. The internet can expand, local radio broadcast bands cannot. And you can only add so many bells and whistles to an 87 year old, one-way medium like FM radio until it finally makes more sense for hip and trendy and always up and coming national media conglomerates to just quit beating this old pile of horse bones and get with the times (Hint: They already outsourced the towers for a reason.)
And if you don't believe me, count how many pitches an hour you hear for these apps on their stations.
They already have the capacity to run continuous branded streams of all-star talent everybody knows from coast to coast. With localized inserted whatever for each geographic area along with the national content. They can know in real time who is listening, where, when, how long and which income level/demographic/geographically targeted spots they can insert into individual streams and even customize the music to individual listener preference (including those songs with f-bombs) Based on the information they can glean from an individual app like iHeart or radio (dot) com.
That also conveniently inquires about inserting itself into other apps people are using to further snoop for other such choice advertiser information. Like who their friends are and their interests? What activities they share? Their last played song on YouTube? What they ate for breakfast on Instagram? Who they voted for Twitter, etc that can further narrowcast the advertising and even music to specific listener interest for maximum advertiser/artist return and shareholder value?
And the only thing missing is individual terrestrial dial positions and call letters, ridiculous piles of paperwork, expensive broadcast engineers and equipment and any other excess government-mandated whatever and the cost of it all?
The ugly question is how much longer will major radio conglomerates like iHeart and Entercom and ad agencies actually need an unfocusable, limited 87 year old medium like FM radio, only responsive to those on a screened, selected, but fairly homogeneous panel overall by a third party using a secondary technology (PPM) that issue results periodically when everybody can technically get all that data in real time directly (or by seconds) with streaming?
This isn't some far off future, the tech for all of that exists and is being used right now. It's just the fine tuning of it. And one day, the local transmitters will be just another entree for the vultures in Accounting.
But local FM still has a place, even in this landscape and it may be used for many years to come. Hopefully as a second-tier, more localized service (KRIZ/KYIZ and KRKO/KKXA for example could get actual FM signals that finally cover their listening areas, lower end public stations like KEXP can get better signals, etc.) But it will go down the chain as time goes by. But there will always be a need for some kind of local terrestrial radio. So FM will be here long after the major corporate value has vanished.
And AM? Hell, just give it to the low power radio geeks (Yay!....Aw, come on. You already hear lunatics everywhere on it.)
Sad truth though is the religious groups will likely get FMs first as they're being spun off in the coming years. They have the money everybody else doesn't.
So again, buckle up....