Disagree
Top 40 was a >format<...not the end of all things.
In most cities there was a >top 40< station...a rock station (aor) a classics station (usually motown and ilk) etc.
What happened post consolidation is the segmentation into demographics...and each station plays to that specific demographic...and thus become stale >really fast<. Who wants to spend all day listening to music that appeals to 26-34 year old women (unless you are a 26-34 year old woman...of course). Even so, it has relegated radio to "backround noise" as opposed to anything that you would listem to for new and exciting sounds.
All of this has placed a critical importance on college radio. Unfortunately, college radio reacted with some hostility to the major labels and has gone to indy labels for music.
Double whammy...you get nothing but >sameness< from major radio that drives sales of major labels...and no support of alternative music from the real >buyers< of music...the young college/professional...
The 80s should be an example of how independent radio is supposed to work...college radio pushed little "no-name" bands like REM, Depeche Mode, New Order, Midnight Oil, Peter Gabriel...and that exposure..combined with major label support and a vibrant MTV (now MTV2...the one that plays >music<)...turned this music into mainstream.
There is hope...albeit slim, that music is making a comeback. What we need are the major labels to figure out that their staggering sales are a result of staggering prices and no-talent acts...and Apple's successful foray into downloadable music should show them that it is INDEED a price sensitive market...hopefully there will be a decided push to >non-pop< music there as well...and we'll see if they figure it out.
