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(USA) AM Radio (mass shutdowns) - Tipping Point

Does the PPM system allow for different PPM codes to be embedded in the (original) AM signal and HD/Translator/Stream signals (or even up to 4 different PPM codes so the AM, HD, Translator and Stream content can be individually rated)?
For AM stations with an FM translator, the same encoding is used. FM stations that run multiple HD streams get separate Nielsen encoders for each format/channel. I've seen many FM's that don't encode their HD-2, 3, etc. In theory, stations are supposed to use separate encoding for a stream, but that doesn't always happen either.
 
When did streaming really start taking over for young people? Well Spotify was a little late to enter the scene since iTunes and others were already well-established by the time it launched in the U.S. But its debut probably marks a turning point so let's use 2011 which also coincides with a major growth period for smartphones and high speed internet.

Someone who was 15 in 2011 is 25 today. The radio advertising demo currently goes up to 55. That gives FM radio roughly another 30 years before is really starts to lose relevance. After that we're looking at a quickly multiplying number of people who grew up with non-radio sources for music and entertainment in their formative years. That's my rough take on it anyway, and it's not like I think it will be like a cliff but a quickly accelerating slope that has already begun its gradual descent.
This reminded me of a couple of comments I saw on Reddit recently.

Screenshot_2021-03-07.png
 
This reminded me of a couple of comments I saw on Reddit recently.

By the same token, all of that requires action on the part of the user, as well as subscriptions. I don't know if you notice it, but the record labels have focused a lot of attention around streaming, and as it becomes more successful, we can expect that they will ask for royalty rate hikes at the next opportunity. That means increases in satellite subscription fees or Spotify membership fees. Radio remains cheap and easy. At some point, depending on your age and activity, that becomes attractive.

 
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