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What does payola mean?

Looking for the meaning or definition of the word payola? Here's what it means.

Noun
  1. (US) A bribe given in exchange for a favor, such as one given in exchange for the promotion of goods or services (originally one given to a disk jockey to play a record).
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The past five months have brought charges of price gouging, illegal insider trading, kickbacks and payola that have rocked the industry.
In radio payola, you're trying to seed a large market and hope that something will then take off through the free choice of the consumers.
Now for the past 50 years, we have done everything we could to get music on the radio, including at one time payola.
Is payola so widespread and successful in the radio industry that it must then also be the lubricant that greases our health machine?
Let's enjoy this new format before the labels start offering payola to bloggers.
But according to one of Derek's commentors, payola is even more pervasive in Europe.

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