A modified Delphi survey and in-depth interviews of a panel of radio broadcasters whose stations are also webcasting were used to examine: 1) why consumers are choosing to listen to Web Radio, 2) what influence Web Radio is having on the radio listening experience, and 3) what impact Web Radio is having on the advertisersupported model of radio consumption. Two rounds of the Delphi survey were conducted. Analysis of the central tendencies (mean, mode and standard deviation) showed consistent results from Round I to Round II. Therefore, no further rounds were conducted. The panel was sub-divided into four groups: Large Market/New Broadcasters, Large Market/Long Time Broadcasters, Small Market/New Broadcasters and Small Market/Long Time Broadcasters. For most of the items in the Delphi survey, opinions expressed by the panel members were consistent across the sub-groups. However, in seven key areas there were definite differences of opinions. The panel feels they know why consumers are listening to Web Radio. What the panel is much less certain of is how Web Radio is influencing the radio listening experience and what impact Web Radio will have on the advertiser-supported model of radio consumption. The panel feels that Web Radios effect on traditional radio is minimal at this point in time. However, the panel feels that Web Radio will have a substantial effect on traditional radio in five to ten years. The in-depth interviews of the panel members were conducted by the researcher as part of the first round of the Delphi survey. Constant comparative analysis was used to analyze the data from the interviews. The first level of analysis resulted in nine open coding categories. Axial coding resulted in two categories. The first category was labeled Influences on the Radio Listening Experience. The second category was labeled Impact on the Advertiser-Supported Model of Radio Consumption. The core category, the central phenomenon around which all other categories are integrated, was identified as The Way Web Radio Was Being Delivered to the Listener. The Internet is providing a whole new distribution system for audio programming. The impact of this new delivery system is just beginning to be felt by the traditional, over-theair radio delivery system.