Broadcast spoils instrument (4)
I believe the answer is:
lute
'instrument' is the definition.
(lute is a kind of instrument)
'broadcast spoils' is the wordplay.
'broadcast' shows a homophone (sound like) (how the word might sound on the radio or TV).
'spoils' becomes 'loot' (both can mean a reward or proceeds).
'loot' is a homophone of 'LUTE'.
(Other definitions for lute that I've seen before include "Plucked, pear-shaped instrument" , "Elizabethan stringed instrument" , "Stringed instrument shaped like a halved egg" , "Old musical instrument" , "Play instrument" .)