>> People pay thousands of pounds to have their advert on radio.
>
> OK, but that still only works out to a few pennies per day over the
> duration that the advert plays for.

A quick google states a price of 1000 pounds per week to advertise on a 
large regional station.  Given they probably have 20 or so different 
adverts that equates to an income of 20k per week for the station.

> (More to the point, what adverts they do play inevitably sound very
> cheap and amateurish. Not at all like the slick, polished adverts that
> constantly bombard you on TV. Presumably advertising on radio is much
> cheaper than TV -

That same site I found above also mentioned you should spend about 10% 
of your budget on actually making the advert (presumably 90% on 
advertising fees to the station).

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