The Appeal of Internet Radio
A radio station broadcasts radio waves to listeners. Internet radio communicates and spreads messages through talk shows distributed wirelessly. In 2012, subscription-based and free Internet radio services accounted for nearly one quarter of the average weekly music listening time among 13-35 year olds. As Internet-radio listening rose, listening to AM/FM radio declined 2 percentage points.
Monetization and Technology
There are 10 unique ways to monetize an internet radio station:
- Title sponsorship
- Donations
- Crowd-funding
- Selling branded merchandise
- Selling time
- Paid-membership loyalty club
Software platforms like SHOUTcast and Icecast popularized streaming audio content and made internet radio accessible. Live concerts were broadcast over the internet, followed by the first radio station playing music on the web. Despite limitations of bandwidth and latency, technology advancements ensure upgrades and modifications, making internet radio more feasible and convenient.
The Early Years and Challenges
In the mid-nineties, early internet radio stations appeared with poor sonic quality, starting over phone lines. In 1998, rules for internet broadcasters were laid out regarding copyrighted material.
The early 2000s marked expansion in the internet radio space. As broadband became widespread, more stations created an online presence.
Did Mark Cuban Invent Streaming?
While Cuban’s achievements span much further, he was ahead of the game regarding the internet and its potential. In 1995, Cuban co-founded Broadcast.com, an internet audio and video streaming service. He sold it to Yahoo for $5.7 billion in 1999. This made him a billionaire at age 41.
Cuban is an innovator whose inventions have impacted society, such as paving the way for Netflix, on-demand video, and more. His journey shows the power of perseverance, adaptability, and relentless pursuit of success.