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Podcasting Is Not Dead:
...from being "one" phenomenon where almost everybody knew a lot of the same references (DSC, Dawn&Drew, ...) podcasting is now nothing more than a way to get audio (and video) content
Even if I'm using Google Reader to skim headlines, I'm not rss'ing the news - I still read them.
Same for audio - now I have a way of getting shows conveniently whether they are broadcast locally, nationally or abroad. Whenever, wherever.
But it still comes down to time constraints - take out work, sleep and family time. What remains is leisure - surfing, reading, watching video, playing games - or working out...
Subscriptions and loyalty are great, but pull-based push doesn't equate to actual use. There is a reason iTunes has built in limits for backlogged content
So - text, audio and video are all alive and doing quite well, each across a multitude of platforms, formats and distribution channels.