Final answer:
Radio has survived as an advertising medium by evolving into a primarily local advertising medium. Advertisers on radio could reach anyone within listening distance, making it a broader and more accessible advertising platform.
Step-by-step explanation:
Radio has survived as an advertising medium by evolving into a primarily local advertising medium. In the 1920s, radio emerged as a new and innovative way for advertisers to reach consumers. Unlike print media, advertisers on radio could reach anyone within listening distance, making it a broader and more accessible advertising platform. However, radio had to be careful not to offend anyone due to its broader audience.
In addition to selling advertising, radio stations also build the cost of advertising into the product cost, so consumers who purchase the advertised goods are indirectly paying for the radio service. Satellite radio companies, on the other hand, charge a regular subscription fee for streaming music without commercials, making the product excludable.