Here's a twist of irony.. Last August I purchased a new pickup truck for use hauling stuff to or around my home. I realized just this past weekend, that I have not yet selected AM on the band select switch, nor programmed any AM stations into the band presets. Here in the DC area, with all the news stations having migrated to FM, there just isn't anything left that compels me to do any AM listening. And I've been in this business for over 35 years!
David made a good point on the Seattle board when someone was asking about advertiser and agency demographic targets. His point regarding larger markets, which bears repeating, is that none of the agencies nor advertisers can care less about the 55+ demographic. TV is a different story, where the big pharmaceutical, adult diaper, and adult beverage companies rely on visual cues in ads to sell products. Radio doesn't fill that requirement, so the advertisers are interested in demographics that radio reaches better. The reality of AM, is that the MAJORITY of the loyal listeners are over 55. That, and combine the inferior audio quality (yes I know it can do better than it does now, but it just isn't), impulse and terrestrial noise swamping out reception, and popularity of talk programming starting to wane, of course the amount of listeners are decreasing. Ultimately stations will continue to go dark or serve a foreign language need, but I frankly welcome the 'thinning of the herd' when it comes to the number of AM stations. How many are left ten years from now, remains to be seen.