Big names and big money are transforming what was once a do-it-yourself medium

Podcast networks are selling for hundreds of millions of dollars, but nothing’s stopping anyone of modest means from starting a podcast. Celebrities want to make the podcast scene, but nobodies can appear anytime they choose. Fortune 500 companies are pouring cash into podcast ads, but the vast majority of podcasts never make a dime. Narrative formats are showing up in podcasts, but extended conversations remain among the most wildly popular podcasts. Podcasting began as an audio medium, but now it includes video. So, what’s next? Just about anything—and its exact opposite!

The world may someday look back on this as the “Golden Age of Podcasting.”...

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