This article in Forbes Magazine seems to suggest it's the best alternative for those trained in radio to keep making a living, as ratings slide and the business craters. 

For veteran announcers, it's become a major lifeline. According to former radio announcer Forrest Kelly, it saved his ability to make a living. 

“Podcasting gave me creative freedom I never had in radio. I control the content, the format, the schedule, and the vision. That autonomy—combined with the skills radio drilled into me—has been transformative.

Radio taught me discipline, timing, and how to connect with an audience under pressure. Podcasting gave me freedom, creativity, and a supportive community. The combination of those two worlds is what makes podcasting so powerful for former radio people like me."

 Radio DJs Find Podcasting A Comfortable Home