Sarnoff was only too happy to take advantage of this. He found, as he suspected, that listeners didn’t mind advertisements at all. By its second year on air, NBC was selling over $10 million worth of ads a year. By the early 1930s, radio advertising was worth over $40 million a year in a market that was shrunken by the Great Depression. Newspaper advertising fell by a third, and magazine ads by closer to a half as radio advertising took off.
