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According to International Podcast Day, “A “podcast” is sort of difficult to explain because there really isn’t anything else like it — but rather, many things that are kind of like it.”
They continue: “A good starting point, is to think of a podcast as “Internet Radio On-Demand.” It’s similar in that you can usually listen to it on your computer — but it’s more than that. [However, and not to confuse the issue, podcasting isn’t confined to just audio but can be video as well]. With the amount of content that podcasting provides, regular Broadcast Radio, or “Terrestrial Radio” — as they call it — simply can never compete. The AM and FM radio band only has so many channels. Consequently, radio stations “Broadcast” their content — meaning that they attempt to appeal to as broad of an audience as possible. Because, afterall, this is what advertisers are looking for. But podcasting, by contrast, is not necessarily hamstrung to advertising revenue like its broadcasting cousin. With its specific and specialized content, it is able to “narrowcast” to only those who choose to listen. So while a particular podcast’s audience may be considerably smaller than the audience of a broadcast, one could argue that the podcast’s audience is a much more targeted and interested in the content being delivered. So, in a way, Satellite Radio, with its ability to provide more channels than Broadcast Radio, takes a step towards podcasting — but still does not come close.”
Podcasts are “On Demand” and can be listened to on your schedule — not when a Radio Station decides to air it. So, it’s kind of like TiVo.”