随着“耳朵经济”“声”气蓬勃地发展,无论是泛播客平台还是分众化播客平台都显示出巨大的发展潜力。泛播客与分众化播客“殊途同归”的成功背后暗含着的是二者不同的运营模式,分析二者不同运营模式或可为播客平台差异化竞争提供一些参考。本文藉此分别选取了喜马拉雅与蜻蜓FM作为泛播客与分众化播客的代表案例,分析其在内容运营模式、分发模式、盈利模式等方面的差异,并分析其共有困境与未来发展路径。With the vigorous development of “ear economy”, both general podcasting platforms and niche podcasting platforms have shown great potential for development. Behind the success of general podcasting and niche podcasting, different operation modes are implied, and analyzing the different operation modes of the two may provide some references for the differentiated competition of podcasting platforms. In this paper, Himalaya and Dragonfly FM are selected as the representative cases of pan-podcasting and niche podcasting to analyze their differences in content operation mode, distribution mode, profit model, etc., and analyze their common difficulties and future development paths.