Podcast hosting network Wizzard Media today announced the availability of In App Purchasing for its Podcast Apps in the iTunes App store.

Wizzard’s iPhone App is designed to be quickly customized for each podcast. It lets podcast publishers offer their own iPhone App.

With In App Purchasing capabilities, podcast publishers will be able to offer their paid audience additional features and content, charging a one-time fee or a reoccurring subscription price.

According to Wizzard, their top publishers have converted about a quarter of their audience from free, to paid users, with an average app price of $1.99.

“Now, podcasting becomes a platform that converts audiences to revenue, accelerated by the micropayment billing process that Apple has created with the App store,” says Chris Spencer, Wizzard Media CEO. “We believe this new process is the future model for how digital media will be published, audiences grown and revenues derived.”

The updated App was recently approved by Apple and is available for Wizzard’s podcast companion App publishers immediately.