It sounds a lot like lost love - the kind of love that is painfully slow to move on - but I've read theories it's about David Bowie's late brother. You can read about Terry, David's deceased brother, here. I'm honestly not sure what this song is about, but the sad image of someone sitting in front of a radio or a TV or a computer (really) pining for someone long gone - by choice or by death or by whatever - is a pretty lonely, tender thing to ponder.
As "Honeymoon" approaches, I get more and more excited about Lana's third (really fourth) album. This song just stoked the flames more.