The Revolution In Radio

Online and satellite stations are finally starting to chip away at the dominance of the AM/FM dial

Bill and Rebecca Goldsmith are making a living from an idea that would probably get you laughed out of business school: running an Internet radio station commercial free. From their home in Paradise, Calif., in the foothills of the Sierra Nevada, they operate a format-busting station that spins a tasteful mix of music ranging from the Beatles to Norah Jones to the Strokes. Fewer than 5,000 listeners tune in during peak times, but fans like it so much, they sent the couple $120,000 in contributions last year, covering the cost of bandwidth, song royalties and other expenses and...

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