As a 20+ year radio guy, here is my two cents worth:
THE DASHBOARD: It doesn't get a lot of press, but the car radio is TR's ultimate hope. And when wireless internet (WIFI) comes more prominently to the dashboard, all bets are off as to where the future lies for terrestrial (TR). At this point, not only will listenership be dillutted even further, plus monitoring, i.e., ratings and the like, but station values could face some unusual times. Music-based stations could face even greater hardship. Survivors will include top talkers, dominant morning shows and other high rated talent such as Delilah (And if TR doesn't do something now about it's farm system, even this area could become more vulnerable).
In my opinion, the car radio has to change! 50 years later and we still have those stupid buttons. Too many of them. TR needs to lobby manufacturers to build a car radio similar to a TV remote control, i.e., AM, FM, HD, Satellite, Internet, all on one continuous face. Like the remote, you have a volumn control and a up and down channel selector. If you don't subscribe to Satellite, it just says "Channel not available." A continuous dial levels the playing field. Otherwise, if a car is set to "Internet," I'm guessing it will stay there for awhile.
DISTRIBUTION: I'd like to see a more prominent relationship with the internet. One that offers insurance of greater visibility, greater distribution and more cross-promotion. HD will help, but frankly, until one or a few major car dealers get behind this technology I'm not holding my breath. We kind of date the internet now. I'd like to see more of a marriage.
CREATIVITY: TR has to be a lot more creative. Coming up with a latest and greatest new formula for rotating music, giving it a slick name, going jockless, or adding a sub-par morning show is not being creative. It's stalling. It's also living in the past. We, like the film or literary industry need more imaginative people, not catchy formats. People with ideas that bring hipness back to TR. Plus, we need owners willing to gamble on these ideas. A long time ago, Lee Iacocca brought a little car to Ford called the Mustang. Not a new way build cars, not a new assembly line, not an new gimmick. He brought a product and it turned the industry on its head. Suddenly, Ford was hip again.
Am I pessimistic about our future? No. I'm realistic. If we're more creative, more technologically advanced and quit trying to reinvent the past, we can enjoy a bright future don't you think?