Couple of nuggets (via Radio and Internet Newsletter) from Seth Godin’s keynote this morning at the National Association of Broadcasters annual meeting in Philadelphia:

“With the web and satellite radio and WiMax, radio’s not going to be one-way communication any more — it’s going to be two- or three-way. You’re either going to embrace it or not.”

“The FCC is the reason you exist,” Godin said. “It’s about limited spectrum. If there were a million FM stations, you couldn’t sell any advertisements.” But with the advent of TiVo, Xbox, DVDs, Yahoo!, Escient, home theaters, 400 TV channels, 10,000 magazines, and more, “the TV-industrial complex is going away. What are you going to do about it?”

He challenged his audience,”How many podcast subscribers do you have?”, noting that one New York City station has 50,000 subscribers now and will someday have 500,000 subscribers — “and each one of them is someone who’s not listening to you.”

Responding to the speakers before him who extolled the value of radio’s localism, Godin noted, “Local doesn’t necessarily mean local on a map; it can mean local based on interests.”