Sorry, but you're all wrong. I've got over 20 years as a broadcast manger... let me fill you in.
Radio ratings are an ESTIMATE of the total number of listeners and the number of “tune ins”, known as “cume”, gathered using several different methodologies.
The older method, still used in smaller markets, is the Arbitron diary. Selected listeners are mailed paper diaries that they use to track listening habits for a week, Thursday to Thursday.
The newer method is called PPM, or “Personal People Meter” which uses an encoded signal received by a device that resembles a pager, worn by the survey participant. The data is downloaded to Arbitron every evening and detailed listening reports are generated from the data.
Arbitron Radio Ratings and Media Research - Home
Farpoint Station: How Do Radio Ratings Work?