In response to John West's 45 years ago: In 1967 portable electronic devices of any kind were exceptional- most were instead tube/valve mains powered, & many cars did not even have an AM radio! A pocket transistor radio was then a serious purchase ($$$ in today's money ~equiv. to a netbook PC/smart phone now), & cassette tapes had yet to be invented.
Almost all canned music then came from LP/45s "records", with even mains powered reel to reel tape recorders a big ticket item. Folks keen to a hear a top song would often listen for HOURS to a station on the off chance that it'd be played! The likes of the CDs/DVDs,PCs, internet, GPS, WiFi, smart phones,USB memory sticks, digital cameras, MP3 players,video games, calculators & touch screen tablets did not then exist. LEDs were mega exotic, & astronauts on the hi-tech Apollo moon program would have been dumbfounded with even mono LCDs.
In stark contrast to then, the average human now may be near overwhelmed - make that totally overwhelmed- with cheap/free on the go AV information sources & portable entertainment devices.
Over recent years I've helped special interest groups (religious,community,short term events etc) with FM transmitter setups. The costs of quality & legal off the shelf legal FM gear is often near incidental to program content. Dead boring aspects like power supplies/consumption, antenna type/location(& possible safety, structural & regulatory issues arising),copyright, legal aspects of broadcast material,announcers who go beserk, studio facilities, phone/internet lines & dedicated "staffing" are the real concern. With such overheads it may be better to instead broadcast on line to a potentially global audience.
THE crunch factor for a pirate FM wireless station now is usually ongoing operator dedication, that's attuned to the nearby target audience. Things may otherwise soon fold when when "no one listens"...