As a podcast listener for some 4 months, I had been thinking hard about my own podcast. In the end I have settled on a subject that probably guarantees the hardest possible path. I want to produce a weekly program of 35-40 minutes of music from ( or influenced by) countries surrounding the Indian Ocean.
So I registered a URL for Sounds from the Indian Ocean, bought appropriate gear and then began the path of licensing. The only podcast I know of that plays "licensed" music is Karin's Themed Songs from the Netherlands.
By way of email, Karin explained how she came by her license. So I approached the relevant license bodies her in Australia for both performance and (more importantly) reproduction rights.
I can get a performance license from APRA (http://www.apra.com.au/) but reproduction licenses from PPCA (http://www.ppca.com.au) or ARIA (http://www.aria.com.au) are simply not available unless I approach individual record companies.
Which is where I am now - unless there is suddenly an industry breakthrough.
An interestingly the Government has announced a review of licensing for reproduction in Australia.