MORE RADIO NUMBERS

Here's a little more information I found about the total size of the radio market:

General Radio Industry News
Monday, September 24, 2012
radioinfo | September 24, 2012
Arbitron and MBI Touchpoints Study Reveals Radio’s Strengths. Titled, “Where Radio Fits: Radio’s Strengths in the Media Landscape,” the study revealed at last week’s RAB/NAB Radio Show indicates where radio’s strengths are from a marketing perspective. The study was conducted by Arbitron in conjunction with MBI Touchpoints. Some of the findings that radio marketing people will like hearing include: 1) AM/FM radio is the strongest pre-shopping medium, reaching 31% of 25-54s during the hour before the peak shopping period (1:00 pm to 2:00 pm). AM/FM radio’s reach during this crucial decision making hour is nearly twice that of live TV (17%); 2) AM/FM radio delivers 86% of the total time adults aged 25 to 54 spend with the three main audio platforms. AM/FM radio delivers nearly eight times more time spent than satellite radio and seventeen times more than internet audio streaming; and 3) AM/FM radio is heard by a variety of decision influencers with 43% of respondents aged 25 to 54 saying they listen with their children, 38% listen with their spouse or partner. The complete report is available through Arbitron.

The top rated talk radio show in an area is generally 5th or lower in the local ratings, so the talk radio market at best really isn't very big.