Public service broadcasters recieve their funding from the public. The most reknowned PSB is the BBC, the license fee that all TV owners pay goes towards paying for radio as well as television. It allows the BBC to fund music events/hire bands/presenters etc. It also gives the BBC much more leeway on their content as they do not have advertisers trying to control some of the content so that the advertisers can attract more people to their advertised product. PSB also have much more commitment to public interest as they are a public service broadcaster.
Commercial radio is funded by advertisers, examples of commercial radio stations are: Galaxy FM, Heart FM, Classic FM etc. Because they are funded by advertisers, this makes the radio station much more commercial and is perhaps not fully in a listener's interest.
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