All I know is what I see:
Radio is no longer a mainstream medium for most young people these days and they have perfectly good reasons why they don't listen to the radio. But I do think it will be a hard medium to kill, like vinyl LPs. As more younger people find other resources online and on their iPhones and Blackberries, radio's relevance will disappear or erode significantly more. I know very few people under the age of 25 who listen to radio regularly now. Until radio begins to compete with compelling content both on the radio and online, the only people listening to the radio in 20 years will be in their 70s and 80s (why even those 60 year old whippersnappers are internet junkies these days.)
One of the better ideas is to put more synergy into radio/web offerings. KEXP
http://www.kexp.org and the Triple J network
http://www.triplej.net.au (the national youth radio network of the Australian Broadcasting Corporation, Australia's answer to NPR) are light years ahead of ANY commercial broadcaster in America with this. They offer a great deal of cyber and radio interactivity, including several free MP3 downloads from up and coming new Australian bands each week (or in the case of KEXP, live, in-studio recordings.) Triple J also has a music magazine (a concept pioneered by our own KYYX in '83 with it's Wave magazine:
http://home.myuw.net/deblet/kyyx/wave.shtml ) with non web interviews and articles. What makes Triple J so unique is it's more than a radio station/network, but more of a 360 degree experience.
What makes the KEXP/Triple J models work is that although they're non commercial, they have secured vast and rabidly loyal listenerships by offering independent artists and local acts (under Creative Commons) a leg up. The jocks know their music and you rarely hear the same song twice in a 24 hour period (probably from the sheer volume of new music that comes in.) Might be a headache for some who only want instant, guaranteed hits for kids on a sugar diet of Fall Out Boy, T.I. and Katy Perry, but for free-range young people (including myself at 40) who love to explore exciting new music (as well as rediscovering lost oldies), it's a watershed.
Yes, Triple J, (as the whole ABC of Australia) is totally funded by the government and that's a GREAT idea. It's nice to have a government and country that supports it's youth this way. Well, actually the US government is supporting youth radio. But not here. Over there - in the Middle East with Radio Sawa and well, .......you figure THIS out:
http://www.voanews.com/english/entertainment/musicmix.cfm
Have a listen for a few hours. Compared to Triple J, it's embarrassing.......
KEXP on the other hand has funding mostly from listeners and a few non-profit grants. Their entire budget in one year is less than what a typical commercial station makes in a month. They exist on volunteers and a few paid staff members, but not much else. They make the most of ALL of their resources nevertheless.
I see a day when commercial radio and their online content COULD become similarly merged. Where a station's website can serve as a place where you can not only check up on the latest Top 10, you can download them free from there as well. Plus lots of exclusive material, videos, games, message boards, listener blogs and other content. Or a news/talker can present government PDFs of current legislation or other "smoking gun" papers (sure would help public discourse), Sports stations can offer more videos, fantasy football, etc. Older listeners can enjoy a vast library of thousands of oldies on-demand on station websites, the popularity of songs can be measured and reflected in airplay. Seasoned jocks can present this music with a panache no liner filled computer or kid fresh out of broadcasting school could muster and with an accuracy of what the public wants to hear that can't be measured by any consultant. And these will be locally run stations, not fed down through a parent corporation umbilical cord. Localization is more crucial online than you might think.
There are radio stations that have implemented a few things here and there on their websites, but certainly not enough to make the vast majority of them any mass success dually. Digital copyrights in this country need to be radically reformed to reflect the age we live in. That's the only major stumbling block and one that needs to be addressed for commercial radio's survival in the modern world.
It's also possible to be as traditional as possible and stick to top-down edicts, but that's getting old. There's a lot of potential here for everybody from recording artists to stations as well as (most especailly) listeners. A lot more than anybody has probably given serious thought of. KEXP and Triple J have laid out some pretty interesting framework. We can take it to a new level. It's up to everybody if we can make this all work.