In a broadcasting climate of utter mediocrity, that's a certainty.
"We believe it’s only a matter of time before the internet has a negative impact on traditional radio listenership … and thereafter radio asset values in Australia too,”
...Only a matter of time? Must have started by now, I've cut down my traditional broadcast radio listening to less than a quarter of what it was 5 years ago and I'll bet I'm certainly not the first to do so.
National broadcasters, BBC, ABC etc., are now little more than bastions of political correctness--they're so bad I cringe when I listen to them; and commercial radio offers nothing but lowest-common-denominator sport, cretinous talk-back or politically-motivated commentards etc.--it's just dreadful.
In a climate of utter mediocrity, it seems logical that one would 'dial-your-own' if one could do so.
Trouble is 'narrowcasting' in any form/medium is not necessarily a good idea as one takes the easy option of one's interests instead of the broader whole. Ideally, broadcasting would be fixed, but there's a snowball's chance of that ever happening.