RadioStarOne said:So the only way to make money with a radio station is by selling to ad agencies?
For the most part, yes. There are small stations in small towns where the owner and sales manager have close relationships with the prominent business owners of the community. I once worked for a 500 watt daytimer which was licensed to Concord. The owner, who was also the sales manager, pushed and prodded business people to buy ads. He was the chair of the local chamber of commerce, and used that position as a way to browbeat the business owners into buying time. The station was too small to show up in the ratings. For the most part he shamed the business owners into buying time in order to "support the community."
There was no other way. The 3 previous owners and the 3 subsequent owners all lost money on the station. In 1994 the lease expired, the station torn down, and today it's a housing development.