I don't believe Talk Radio is dead, but evolving, just as radio has done since 1922 when radio stations started springing up all across America. Back in the day [1960's and early 70's] that Julius likes to remember when WCAU-AM was a Philly powerhouse as a talk station. Until WWDB came along, WCAU was THE only talk station in Philly. Even then WWDB made it two talk stations. All other stations on AM and FM were music stations, other than 740 WVCH in Chester being a Christian music/preaching station, and KYW newsradio.
Today, the Spoken Word format has grown in the Philly market: 560 WFIL Christian Talk/Preaching, 610 WIP-AM Sports Talk via CBS Sports Radio, 900 WURD Talk, 990 WNTP Conservative Talk [from the bird], 1060 KYW Newsradio, 1210 WPHT Conservative Talk some live and local some from the bird], 90.9 WHYY-FM NPR Spoken Word programming, 94.1 WIP-FM Philly-centric Sports Talk [live and local], 97.3 WENJ Sports Talk via ESPN Radio, 97.5 WPEN Philly-centric Sports Talk [live and local], I'm not including 106.9 as it is going back to a music format.
Then the rim shot stations that have good signals into either all or part of the Philly market: 101.5 WKXW News/Talk Trenton, 660 WFAN Sports Talk NYC, 710 WOR NYC, 740 WVCH Christian talk/preaching Chester, 770 WABC NYC, 800 WTMR Christian talk/preaching Camden, 920 WCHR Christian talk/preaching Trenton, 1040 WNJE Sports Talk Flemington NJ, 1130 WBBR NYC Business News/Talk via Bloomberg Radio, 1150 WDEL NewsTalk Wilmington, 1180 WYFL Talk King of Prussia, 1290 WWTX SportsTalk vai Fox Sports Radio, 1420 WCOJ CatholicTalk via ETRN Radio, Coatsville, 1440 WNPV Talk Landsdale, 1450 WILM News/Talk via Premiere Radio, and 1520 WCHE Talk West Chester. Back in the day most if not all of these stations were music format too.
So there are many places Philly's talk listeners could go to hear talk thus lowering the market share each has. As I live below Wilmington, I can not get many of these AM stations, but even so, I've got quite a few choices too, and I listen to a few of them depending on what's being talked about on a given day. So maybe other talk listeners are doing the same. For instance I listen to WHYY-FM, WDEL, WWTX, WIP-AM, WIP-FM, WPEN the Fanatic, and WBBR [Bloomberg Radio] on a regular basis. I go around the dial to hear what's being discussed and then pick one.
Even FM music format station with their AM drive time shows have adopted some level of talk into their programs, be it some gossipy, or slightly edgy "sexual innuendo" topics, etc.
So I'd have to say the Spoken Word format is alive and well. I believe we'll hear more spoken word on FM, as AM becomes more ethnic and religious formated. FM will eventually go more spoken word. Music is so splintered these days. In the 60's WFIL, WIBG, WAMS were the rock stations that the teens listened to, adults listened to WIP - AM / FM, WPEN, WDEL AM / FM, WILM, WTUX, etc [stations my folks listened to back then]. The Classical Music station was WFLN AM / FM. I don't remember hearing any Country stations back in the 60's. Then FM started playing modern music and that started AM's decline. The Rock music world also changed with "underground" rock [the heavier louder "drug oriented" music] vs the pop rock that was AM's staple product.
Today there's all sorts of Rock formats targeting a specific audience. WMMR, WMGK, are very different from BEN-FM, WSOX, WOGL, and are different from WJBR or B-101, vs WDAS-FM, WJKS, etc.
So eventually I believe spoken word will move more to FM. I do agree though that spoken word format appeals more to a more mature audience. So it probably won't become the teenybopper format of choice. But once you're in the working world supporting a family, paying taxes, etc, etc, then the news, commentary, talk become more of an interest.
I believe Talk Radio's challenge is to tweak their format so that it might appeal more to those 30-50 demos, both male and female. I believe Sports Talk is trying to do that, and WIP-FM and WPEN's ratings show plenty of listeners like talk, but doesn't have to be political talk.
WHYY-FM's numbers show that you can pull in a sizable audience with intelligent non-argumentative talk that can be political, but doesn't have to be political. Interestingly, WNTP offers a similar format in conservative style talk as the more liberal leaning NPR format, yet WHYY-FM pulls a far larger share than WNTP. It seems that possibly conservative talk listeners want that bombast, in your face "Joe Pyne" "Rush Limbaugh" type talk show over the more serene talk of WHYY/NPR or Salem Talk Radio/WNTP.