Companies like Acast[0] and Midroll have tech to dynamically insert targeted ads right into the audio stream while playing. So two people listening to the same podcast will get different ads.
I know he's an outlier due to the enormity of his podcast, but it's been said[1] that Joe Rogan now makes $75,000 per episode
That's a long way from his early days of being sponsored by the Fleshlight.
[1] https://www.cheatsheet.com/entertainment/joe-rogan-how-much-...
I imagine more companies making podcasts that seem like they're home-grown, regular ol' people, like what was done with the music industry. Maybe that's something that people are already used to, though and companies won't have to hide it. Def lots of pro level podcasts have popped up to compete w/ us little folk. It'll be interesting to see what happens.