With Google dipping their spindly talons into every piece of media out there, it seems obvious that the machine would eventually hit the next wave of audio; Podcasts. It is rumored that Google, alongside their planned restructuring, is plotting to provide contextual ads alongside streaming audio, and perhaps other media... Some say even as far as radio and television. The service was apparently slated for release in 3Q 2006, but was delayed.
I think giving Podcasters the opportunity to turn profit from their content gives more incentive for them to create the material. Eventually, it could transform the media into a true hub for professional quality media, further solidifying it as the best source of entertainment in the 21st century. Given Google's current penetration of the advertising market, it's pretty much a guaranteed success already; and why shouldn't it be?
There is some talk that Google might be working on a search and player supporting component, but this is purely analyst speculation.
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