In addition, advertising revenue for online radio remains minuscule compared with terrestrial radio. U.S. radio online ad spending was just $600 million last year, compared with $15.3 billion for broadcast radio, according to eMarketer. But eMarketer projects that the online share of radio ad dollars will grow rapidly, from 3.8% of the total in 2010 to 8.5% by 2015.
Industry veterans give Agovino and Schore a lot of credit for trying to compete in the still-evolving world of online radio.
"They remind me of what we were like back in the 1980s," said Thom Ferro, who was a senior executive at Westwood One for 22 years before becoming president of Broadway Entertainment, a producer of radio and television programs in Santa Monica. "They succeeded the old-fashioned way. They work hard. They're honest. And they super-serve their clients. But they're also embracing the digital era, and they're figuring out how to make it work."
The same year Schore and Agovino decided to launch Triton, a newly published book, "Blue Ocean Strategy," posited that companies can succeed by creating their own markets rather than scramble for share in existing markets.