In the US, the artist is not compensated for Analog broadcast of music.
Composers and Authors are, via blanket collection agencies ASCAP, BMI and
SESAC. Each charges radio and TV stations (and even web streamers) a fee in
proportion to station size for usage of the music in the catalogs they
represent.

During my days in the broadcast field (late 1950s), periodically a day's play
list would be perused and then assessments made and distributed to the above
according to what was played. This was a convenient averaging out system that
apparently worked well for all concerned.

Bill, K5BY
SE Texas