Financial Firms Banking On Podcasts

    April 27, 2006
    WebProNews Staff

Clients of some investment firms will soon have the opportunity to download podcasts of financial research for easy listening.

They may be the cure for insomnia for most people, but relevant market research has extensive demand among the power brokers on Wall Street and elsewhere. Since the iPod and iTunes have found their way into so many people’s lives, it’s very logical that some firms should capitalize on iPod users who wield briefcases and board meetings each workday.

Several financial firms have started or will start podcasts, the Wall Street Journal noted in a report. Well-known bond expert Bill Gross of Pimco has his monthly podcast downloaded 5,000 times a month.

John Caldwell, a chief investment strategist at McDonald Financial Group, does a Monthly Market Commentary podcast and others related to personal finance for the company. However, his last podcast on iTunes is dated March 7th, so this may be less timely than others. (How about an update, John?)

Bear Stearns will be the latest to join the podcast field, the article said. But unlike Gross or Caldwell, those podcasts will only be available to clients of the investment bank.

Even though podcast listening has not been widely adopted, with reports that only one percent of Internet users listen to them currently, the financial sector could be a driver for podcast adoption with its customer base.

These firms generate lots of reports for their clients. A powerful Wall Street firm could afford to hire or contract with voice artists to read those reports for recording on a regular basis.

An investment bank could make certain strategic investments itself, perhaps giving iPods pre-loaded with some recent reports to select clients along with specific instructions on subscribing to future podcasts.


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David Utter is a staff writer for WebProNews covering technology and business.