After resizing the image, rasterize the Smart Object and use Content Aware Fill to fill the canvas with its background.
Use the Select Subject feature to select the radio, then inverse the selection and apply a Layer Mask to the type layer.
Click the New Composition from Footage button, locate your PSD file and select Composition as the Import Kind.
Search for the Wave Warp effect in the Effects and Presets panel, then drag-and-drop it directly onto the type layer.
Set the Wave Type to Noise in the Effect Controls panel, then adjust the Wave Width and Wave Height values.
Duplicate the Effect and change the Wave Type to Sawtooth, and then adjust the width and height of the effect to something less dramatic.
Add the composition to the Adobe Media Encoder Queue and choose the format, preset, and location before rendering.
For additional information on encoding and exporting for video, visit the export settings reference for Adobe Media Encoder.
Check out this curated collection from Adobe Stock with more images that you can use in your next project.