Radio dominated the first half of the 20th century but the advent of affordable TV sets in the 1950s seemed to spell doom for the format. Yet, radio endured. Radio was able to create a distinct image for itself, separate from TV. I have own theories as to why (cars, transistor radios and the music industry) but nothing conclusive.
Price. You can buy an AM/FM radio on an integrated circuit for probably under a dollar ready to integrate. I’ve seen radios given away as swag including wired earbuds.
Ubiquitous access to portable devices that show video is close, but the devices are expensive, data is expensive, and watching video while driving is illegal.
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And besides, that is also extremely dangerous for yourself and everyone around you.
Hell, the entire reason I skirt YouTube official is so I can turn off my damn screen.