Most podcasters are the modern day equivalent of public access TV broadcasters. Big media is not paying them to "be there" with only a small number of exceptions.
Companies don't invest in declining businesses. That should make sense to you. Companies invest where there's growth. The growth for media is online. Not broadcasting.
Only 35 percent of the population listens to at least 1 podcast weekly. True, that number is growing.
See my comment above. The advertising model for podcasting is more efficient than broadcasting. So the 35 percent is worth more than the audience for broadcasting.
How many times have you and I, and David, and Mike Hagerty made similar points, only to keep being told by people outside the business, that we should still be doing things the old way?
People want to relive their youth. That's fine. But that has nothing to do with investment. All of my investments are in growth businesses. Not ancient history.
You want the old ways back, listeners? Cancel your streaming subscriptions. Turn off your SiriusXM. Distance yourselves from podcasts and "free" streams.
There's nothing radio stations can do that will cause the audience to throw away their phones and computers. Those are the devices that replaced radios. They started to do so when radio stations had full staffing.