Radio has an almost ubiquitous presence in the United States with 271 million weekly listeners aged six years and older tuning in and a 93% penetration rate for AM/FM listening. Although the radio industry remains healthy entering its second century of existence, there is no denying that it is experiencing a paradigm shift. This chapter considers those changes by examining: 1) the broadcasting industry, 2) how the radio industry business models have evolved to accommodate the changes, 3) satellite radio’s growth, 4) the rise of the connected car, 5) mobile music services, 6) podcasting, 7) audio streaming, 8) HD Radio and its subchannels, 9) noncommercial and public radio, and 10) government oversight from the Federal Communications Commission.