Video may have killed the radio star but the internet has barely hurt its popularity.
Radio remains the world’s most popular form of media in terms of audience, with listener figures at their highest levels in decades.
The industry, which generated revenues of $44bn last year, up more than 2 per cent on the previous period, continues to attract advertisers. Incumbents such as Clear Channel, Sirius XM and Global Radio have largely survived the rise of digital focused start-ups such as Spotify, Deezer and Pandora.
But broadcasters face some of their fiercest competition for years as the world’s biggest technology companies – including Apple and Google – take aim at their business.