Again, WRFF Radio 104.5 is the MOST popular station amongst college kids around this area, along with the infamous Q102. I, being a college student, can vouch for this. It's so well known, and plays the same songs all the time, that it's become a meme of sorts. However, it's a beloved meme at that. People who want rock and pop that strays from the path immediately go to Radio 104.5 or 91.7 WKDU.
It should NOT be that hard for advertisers to monetize Radio 104.5. Hell, the electric factory, the TLA, Boot n' Saddle and such should be jumping on Radio 104.5 to advertise shows going on there.
Liberal political ads, stuff like that. Easier said than done I reckon. People like the authenticity of the station and that the hosts are people like them that like alt rock. They like hearing the classic grunge hits of the 90s, the emo/ pop punk hits of the late 90s and 2000s. They LOVE hearing Mr. Brightside for the millionth time, or the Black Parade by MCR, or Holiday by Green Day. It's making CHR out of alt rock. It might not be top biller but it sure as hell is successful either way.