A new company plans to introduce a Web-based system that is aimed at making a business out of podcasting.

Odeo was co-founded by ex-Google employees, Noah Glas and Evan Williams, pioneers of the blogging movement.

Williams predicts that podcasing will see the same steep growth as blogging did due to the rapid proliferation of iPods and other handheld MP3 devices.

The premise for Odeo's business is that the explosion of digital audio content has created the need for a central place to find relevant material, and that there will be a need for a market to buy and sell "premium" content, writes The New York Times.

More noise

Audible.com has also said it will join the podcasting movement. It says it will make its software and distribution system available to people who want to produce their own podcasts.

Audible chairman Donald Katz told New York Times: "Podcasting has become the Internet buzzword, but it is at risk of being over hyped. Podcasting is drafting on the magic surrounding the word iPod."