Podcasting expected to surge

Podcasting may be the newest - and least recognized - of the social media tools, but a new report indicates that podcasting will come in to it's own in the coming years.

by Kristina Knight

So far the audience for podcasting is small; however that small group is very dedicated to the technology and their favorite podcasters. Advertisers are also beginning to take note. In 2006, the advertising market for podcasting was only about $80 million. That number is expected to explode to at least $400 million by 2011.

"These people constitute an excellent media target," said Jim Belcher, an eMarketer analyst (via MarketingVOX). "It's a self-selecting medium. These people are into it, and they're really into it."

Belcher expects much of the increase will be due to new technology from Google. The search giant is expected to have an AdSense version that can be used in podcasts. For now, growth is slow and steady.

“We’re seeing steady growth,” said Mark McCrery, founder and CEO of Podtrac, a startup company that is building a podcasting network while also working to establish some measurement standards (via MediaWeek). The company has run successful podcast campaigns for brands like Paramount, Dell and T-Mobile. “They are investing in podcast advertising, getting some good learning and coming back for more.”

The new market, the new but dedicated audience and the relative low costs in producing a podcast are expected to be the driving force behind the industry growth.