Radio may be going through its darkest hours to date, but I think it's far from dead. On life support perhaps, but at least there's a pulse. Yes, it may get darker before we see the light of dawn, but radio isn't quite ready for an autopsy. Perhaps a biopsy.
In any successful business, astute investors are necessary. Radio is a fine balance of sales, promotion, artistry and (ever changing) technology. I believe the most successful stations will be live and mostly local. Radio will be far more free-wheeling, vibrant and experimental than it's been in years. These qualities will be required if radio is to survive. Successful businesses sometimes defy conventional wisdom. Just read BarefootTom's recollections of airing Paul Harvey on WPhD in the heyday of Progressive Rock. Totally unconventional, cool, succe$$ful. IIRC, the local avails were SOLD out.
Perhaps I drank too much kool aid from the radio vending machine over the years. Maybe I worked with too many good sales men and women, but I believe good, personality-driven radio is a tremendously effective medium for advertisers. As long as there's frequency to support the product, radio attracts ears and moves bodies and does so because it's a great source of entertainment, information and aural stimulation. BTW, I mentioned advertising first because anybody who's been in radio for more than ten minutes knows that without commercials, nobody gets paid. (My sales buddies can buy me lunch for that observation.)
As to the immediacy of news and the use of "I-Reporters" on CNN, the local TV sattions, YouTube, Facebook and other websites? I think it's a good idea that embraces technology, allowing listeners and viewers to actively participate. There's a sense of tribal community. Conversely, there is an equally important issue of journalistic veracity which necessitates discretion and moderation when using such video (and/or audio.)
Can viewers and listeners trust the sole reports and videos that are posted on YouTube? What is the veracity of such reporting? Is it fact that "the camera never lies?" Does the Average Joe understand the need to report accurately and fairly? Right now, I'd say no. Perhaps due to my experience and background, I trust the anchors and reporters on CNN, CBS, ABC, NBC, Fox, PBS and NPR to report stories in a factual, objective manner more than I trust a stand-alone I-Reporter.
A good friend and I were discussing the radio and television coverage of the crash of Continental flight 3407. We agreed that WBEN, WBFO, WNED-AM and WECK performed admirably. Sadly, some staffers at those stations lost relatives in the crash.
My friend, a radio guy to the core who also worked in TV for a few years, decried the fact that more than one Buffalo TV station resorted to airing (looping) footage derived from YouTube, rather than footage gathered by its own camera-news person. He cited another station for using YouTube footage because their crews did not have the techical resources to shoot that footage and transmit it back to the station. He contended that the stations using YouTube footage cheaped-out on manpower and technical resources, setting a bad precedent. His contacts at one TV station told him their satellite truck that was in need of both mechanical and electronic repair to the extent that it was not operational. My friend opined that in the months and years to come, Internet footage would replace professionally gathered and edited footage because it TV stations would take the cheap way out. I hope this isn't the case.
The aforementioned is but one man's opinion, based on his sources and what his professional background. I trust him. I also know that what I watched appears to support my friend's contentions. BUT! Did I corraborate the information provided by my friend with a source at the TV stations (purposely unmentioned here) in question? NO. This goes to making the point about what we read and see on the Internet. A dash of fact seasoned with a bit of opinion can make for unhealthy soup.
Long ago, a wise person said "you can find all kinds of information on the Internet, you just can't believe everything you find there." As often as I may check Wikipedia for quick reference, I don't completely trust it. I find myself using other on-line sources and hard-copy information, such as the LIBRARY. It may be old school, but it's a good school.