I twittered about this earlier today. I think it's a big deal that XM Radio has launched podcast channels. So far there are nine podcasts on the iTunes store from XM. This move into podcasting indicates two things.

1. XM is moving away from thinking of themselves as a satellite radio company and moving toward thinking of themselves as an audio based entertainment company.
2. XM is waving the white flag and realizing that they have to expand their audience. The only way they can expand is to go all the way into people's pockets without those people having to pay a ridiculous price for a receiver and a monthly fee.

The good thing about this move is that XM is giving those of us who aren't subscribers more content choices. Unfortunately this occurs at the expense of independent podcasters who will find that there is strong growth in mainstream competition in the space.

There are still areas where independent podcasters can distinguish themselves. Mainstream entertainment outfits who produce podcasts are mostly focused on the technology of getting the content out there. Independent podcasters have the chance to build real communities and have a two-way conversation with their audiences. Even today there are still many gaps between the type of content that mainstream sources will offer and what independent podcasters can deliver.

So I'm not bummed out that media companies like the Wall Street Journal, The Economist, The New York Times, XM and many others are in this space. The more the merrier. The challenge, which I find quite fun, lies in building brands and communities one audience member at a time.