Agreed. Yet the fragmentation of a million sources will mean the profits will be hard to find. The big-time radio days are over.
I'll match you and raise you one. The
big-time media days are over. 30-50 years from now, there will be platforms, yes, but no big media brands. Look at news, for example. Online news sites might have a few million subscribers, if that. But there aren't any modern news sites with the pull or gravitas of the 1960's New York Times or Washington Post.
When it comes to video content, look at YT or any other podcast platform.... Hundreds of content channels / podcasts, and many have followers in the hundreds of thousands, some in the millions -- not many, if any, have the pull or audience that Walter Cronkite had.
These YT channels are replacing big TV. They are small 'brands', but they seem to be the way it's all headed. For example, Rick Beato is one guy. He's a 'brand'. David Pakman is just one guy. He's a 'brand'. Heck, Russell Brand is just one guy, and he's a 'brand'. They've each cut out their own corner of the media matrix, but none of them have the massive influence that CBS had in the 1970's.
Fragmentation -- it's only going to increase.
We are entering an age where there really won't be 'mass' media -- it will just be media. We're probably closer to that day than most of us realize.
To bring this back to radio, I see the same basic trend. For those of us who worked in the field for 20 years or more, I suppose we should stop complaining and just be glad the Radio platform still exists. But it's gradually going in the same direction.