Podcasting has become one of the major buzzwords in the music industry in the past year or so. The relatively new concept allows anyone to create a homemade broadcast, meant to be downloaded and heard on MP3 players. Now, a start-up company called Odeo hopes to become your one-stop-shopping destination for all-things podcasting. Odeo hopes to turn a profit through selling podcasting content, as well as advertising, and down the road, software to create podcasts.

The New York Times turned a spotlight on Odeo, as the company made its official debut today at the Technology, Entertainment & Design Conference in Monterey, CA. Co-founder Evan Williams told the paper that he predicts the popularity curve of podcasting could mirror what has happened with weblogging over the last five year, especially with the growth of the portable MP3 player market.

Odeo's founders told the Times they believe podcasting will co-exist with traditional radio, especially if podcasting becomes much like TiVo, where listeners would listen to a radio broadcast at their own leisure.