The best sources of revenue for radio can be classified into two, i.e Primary and secondary revenue sources;
The primary sources can be, good programming; if your programs are liked and listened to by a big audience, I can assure you that, it is one source of revenue that actually lasts longer. advertisers look for radio stations with big audience. They know that, part of your listeners could be their customers, so the best is to give you money and they tap into your audience.
Another source of revenue is wide coverage of your radio station. the advertisers always look for radio stations that can be able to take their message across wide audience. The two primary revenue sources help the station to generate income without spending more money on marketers.
Then the secondary sources of revenue include, the companies, business operators, governments, Ngo’s among others.These sources are attracted to do business with the radio station depending on the first primary factors.
It is very important to note that, for a radio station to diversify and sustain revenue sources, the radio station management should pay keen attention to programming and the technical issues that may affect coverage.
Also how the station handles the advertisers will determined how the revenue will be diversified. You can actually use different approaches to impress your advertisers without compromising your programming, by making some of them partners.