The difference is the people continued to buy radios, and electronics manufacturers continued to come up with creative new devices. For example, the pocket transistor radio was created AFTER the introduction of TV. Before that, portable radios had tubes and were a lot bigger. The transistor made radios the size of a pack of cigarettes, and those new smaller devices made radio more portable than it had been. It completely changed the way people used radio. They couldn't take TV with them like radio. Of course now people can also watch TV on their phones, so the phone is also having an effect on how people watch TV.
A big part of this is that radio & TV were once considered "new technology" and the electronics companies that made radios and TVs also owned radio and TV stations. That's not the case anymore. New technology is digital, and the digital companies control the hardware. They're pushing their own digital streaming radio, and that's set the bar as to where radio needs to be. Sure, there still will be companies using traditional broadcast radio. It's not completely disappearing. But after 100 years, the platform has become dated, and all of us who work in it can see there are more opportunities if we see radio as a bigger thing than transmitters & towers.
Let's talk about that. Radio companies are investing in talent. Mainly talk show hosts from AM political talk to FM lifestyle talk. Take a look at some of the top rated radio stations, and they're the ones with well-known talent who people want to hear. The music aspect of radio has basically been eclipsed by streaming, mainly because the music itself has become more individual. Radio is one-to-many, so that system doesn't work as well when the music has become so personal.
Music changed in the 80s. Prior to that, a lot of popular music was made FOR the radio, because that's how music was marketed. That stopped in the 90s, when music companies got a digital royalty, and got paid by digital companies for the use of their music. That doesn't happen in broadcasting. So music companies were unleashed, and marketed music directly to consumers via streaming, and radio was left out of the process. That's really where we are now. Older music works well on the radio, because it was consensus music made for radio distribution. Current music works better for streaming because it's more individual.
So what I'm saying is there are a lot of factors and a lot of major changes that have happened in the last 30 years. They've affected traditional broadcasting. TV is affected as well. Where we are now is it's not one or the other, but all. Radio has to be everywhere, and that includes the phone.