You missed the point. I was talking about stations with LOW ratings in big markets. They could be programmed for older audiences. You've said many many times that ad agencies don't want over 55 listeners. It sounds like you're saying that it's better to have NO ratings and NO revenue rather than serving an audience that still uses Radio. Yeah, I get it. The Corporate groups are so far in debt, that any revenue at lower ad rates is insignificant and not worth the effort...
Again you are misinterpreting my response.
Not all group owners are in major debt. Right in Buffalo you have Townsquare which is profitable, not highly leveraged and successful. In fact, there are only a couple of groups that are in significant trouble and even there the group stations are profitable but the profit won't cover debt. If you have profitable stations, you don't experiment with programming that has little likelihood of being profitable.
Station in big markets with low ratings are generally the poor signal stations, the rimshots, the daytime AMs, the high on the dial AMs and the like.
With very very few exceptions, the full signal B and C class FMs do well enough to not have to consider a format such as you suggest aimed at seniors.
There are already quite a few like you think are underutilized. Sol Levine's AM station in LA has partial coverage of the market and does such a format. Sol himself said that the revenue barely covers the light bill... and he is a seasoned broadcaster with over 60 years of experience.
Generally, such "senior formats" are done by groups that find nothing else to do with a secondary AM or far suburban FM. But usually the owner-operator situations that are stand-alones pick a brokered format or some kind of foreign language operation as that is more profitable than trying to sell marginal signal coverage and a senior audience.
The few examples, like Buddy's station in Buffalo, that are successful are very few and have required a lot of work and extensive community knowledge and good relationships with businesses and leaders. Or they are stations in small, unrated markets where the only business is local direct business and most business owners are also older themselves.