Business Week Wrong About Podcasting

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Heather Green at Business Week seems to think there isn’t much money to be made in podcasting. And from where I sit, she couldn’t be more wrong.
From Heather’s blog:

But I believe the general notion here is that there isn’t a huge amount of money to be made just on podcasts and that the disruptive nature of podcasts lie in the fact that most people will be doing them for themselves and their friends and families.

She’s correct that there will be many podcasts with few listeners. At the same time there are already many podcasts with a critical mass of highly targeted audiences. This second group is where the ad revenue gets interesting. This second group is worth more than a typical mass market because the audience is targeted. $1 billion in 3-5 years is probably on the low side of the equation.