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Namekuseijin, something akin to radio is alive and well in other media. A very amusing example is a recent lawsuit against Redtube (a 'free' porn site) by some traditional producers. The judge in the case actually cited radio as part of why he ruled Redtube was doing nothing wrong (getting paid by advertising, not directly by consumers).
Most of Google's 'free' services are paid for, indirectly, in the same way.
Perhaps someone will come out with 'free' e-books that include an advertising banner on the page. Not sure I'd like that consumption of my limited screen space to pay for my reading but it is conceivable.
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