That's the reality. Listeners outside the market don't contribute anything to the station or parent company. Most admittedly don't even patronize sponsors of the distant station.
And few stations show up in ratings outside of their local market and, maybe, an adjacent market or two.
It was different back in the dawn of radio when large companies owned radio stations to promote their primary products or services on a national basis.
That model ended entirely back in the early eighties.
There was yet another factor involved and that was the paucity of stations in the first two decades of network radio. So the family that wanted to hear Fibber McGee & Molly in Kalispell, Montana or Petoskey, Michigan, had to tune to Denver or Salt Lake City or Detroit or Chicago to hear that content. And in the daytime, most of those remote places had no radio service at all.
Advertisers bought WSB in Atlanta to cover big, unserved parts of SC, GA, AL, TN and more. They bought Denver and Salt Lake to cover much of the Rocky Mountain west except for little areas like Phoenix or Boise that had small, local stations. Stations ran ads in Broadcasting Magazine showing how many states they covered.... at night, of course.
So, with the advent of network radio in the later 1920's, we had advertisers trying to reach the whole country with network buys that, together, covered most of the nation.
But TV killed nighttime skywave network radio and, thus, it killed the wide and salable coverage of the big AM stations. At the same time, the FCC's focus on low power stations serving small coverage areas made radio a very local medium based on daytime ground wave coverage. As radio discovered music formats in the 50's, advertisers started buying local radio instead of network propositions.
Suddenly we got things like SRDS: "Spot Radio Rates & Data" that allowed national advertisers to find rates and rep firm contacts for every last station in the country. Instead of buying time on a couple of national webs, advertisers bought on hundreds of stations across the country, each serving a local market. And the ratings firms like Pulse and Hooper started doing local ratings of local stations so that buyers could evaluate each market's array of stations.
And, finally, the move from AM to FM during the 70's ended even the chance that a "big station" might show up in the ratings of a distant market. While stations like WLS and WABC were famous for showing up in places like Green Bay and Pittsburg in those distant market ratings, the move to FM killed even that.