The method most are familiar with is commercial advertising. Radio stations can sell airtime to buyers, who find it valuable because of the station's programming and target audience. The buyer has the station air the ad during certain times and programs that are deemed most beneficial. Certain airtime might be more costly than others, depending on how desirable it is to buyers and how many listeners generally tune in. Advertising must be managed carefully so as to keep buyers happy and keep it profitable.
Listeners are one of the greatest assets when funding radio stations. They are giving the station money because they enjoy its programming. This is easier than convincing buyers why they need to buy airtime, or justifying funding on a grant application. According to the Audience Dialogue website, there are several ways to request money from listeners. This can be done with an on-air donation drive, a direct-mail drive, creating a subscription series or hosting events such as station-sponsored concerts.
Government funding is usually made available to government stations only. Even then, it can be a challenge to keep the funding a station has, let alone get more. According to the Audience Dialogue web page, this can involve auditors, applications or tedious surveys. It will also be necessary to lobby local politicians, as they will need to be convinced that the station's service is of benefit to the community or that cutting funds would negatively affect the lawmaker's chance of reelection.
Non-government organizations are sometimes available to help fund certain types of programming on a station. A non-government organization will have an agenda, but this can be a non-issue if the station's audience or programming lines up with the organization's goals. The Audience Dialogue web page points out that these organizations are trying to do anything they can to reach a large target audience. When the audience is their target audience and profit is not a concern, it can be much easier to negotiate airtime.
Volunteers are also a vital part of radio, and can help keep costs down. People can volunteer in a variety of roles for numerous reasons. Many are students aspiring to work in radio who are looking for some hands-on experience through internships. Others may be adults who want to become involved because of an interest in radio or an appreciation of the programming offered by the station. The web page for WUMB in Boston cites the use of over 300 volunteers to run an annual festival in Boston as an example of what volunteers can accomplish.