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You already learned that 歌謡 means "song," so when you add music to that it becomes a super popular song. It's not just a song anymore. It's in everything you hear!
This is a jukugo word that uses the on'yomi readings of the kanji. You should be able to read this on your own.
A list of the 100 best, most unforgettable, popular songs from the Showa Era was announced.