Bringing in a big-name star can boost your audience reach.
While there are a few cases of pirate radio stations building a big following and successfully going legit, it's unlikely you'll make any serious money out of owning a commercial radio station without ensuring everything's above board and legal. You'll need to be properly licensed and make sure you're paying your dues to performing rights societies if you're broadcasting music. If you can get the right content to the right audience, you'll have every chance of attracting advertising dollars.
Instructions
1. Decide on the content your radio station will broadcast. Think about the kind of advertisers you want to attract and what content is likely to be popular in the area in which you're planning to broadcast. Look at stations that are currently broadcasting in your area to establish what seems to work well. Consider whether a purely speech-based station would pull in the most money, or whether you'd be best off broadcasting music. If you're planning to broadcast solely online, you'll be less constrained by local demographics.
2. Apply for a license to broadcast from the Federal Communications Commission. The type of permit you'll need will depend on the frequency on which you plan to broadcast and the content of your station's shows. Both the FM and the AM band are constrained, which means there is very little space for new stations in most of the country. If you plan to buy an existing station, you'll need to file an application with the FCC to get the sale approved. You won't need a license to broadcast over the Internet. The FCC advises applicants not to buy any equipment before their application has been approved.
3. Invest in studio and transmitting equipment. This will be a costly part of the process if you plan to broadcast over the airwaves, but you can set up a web-based station with just a home computer, a decent broadband connection and some basic software.
4. Contact satellite and cable television providers to inquire about them carrying your station. You'll have to pay for this service, but it will increase your potential audience reach significantly.
5. Register for a license with performing rights organizations if you plan to broadcast music.
6. Recruit a roster of DJs. If your budget allows, poach a big-name star from another station or employ a celebrity that's likely to attract a large audience. While this will increase your spending on wages, it's likely to increase your audience reach.
7. Approach advertisers about buying space on your station's shows. Research what similar stations are charging for air time and put together an advertiser's pack for potential sponsors. Be prepared to price competitively when you're starting out. You can increase your rates as your audience grows.
8. Promote your station. Buy space in other types of media and sponsor events to raise your station's profile.
9. Look for opportunities to buy up or start new stations once you've started to turn a profit.
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