Step 1: create a radial gradient layer.
Select an area with the selection tool.
Layer > New Fill Layer > Gradient...
Make sure to select the "Radial" gradient from the dropdown menu.
I created mine by using concentric circles and separate layers.
Step 3: Add some text. Apply the Distort >Wave filter.
My text is lines from a video game.
"This was a triumph! I'm making a note here: Huge Success. It's hard to overstate my satisfaction. Aperture Science - we do what we must because we can. For the good of all of us, except the ones who are dead. But there's no sense crying over every mistake. You just keep on trying till you run out of cake. And the science gets done. And you make a neat gun. For the people who are still alive. I'm not even angry. I'm being most sincere right now. Even though you broke my heart and killed me. And tore me to pieces. And threw every piece into a fire. As they burned, it hurt because I was so happy for you. Now these points of data make a beautiful line. And we're out of beta; we're releasing on time. So I'm GLaD I got burned. Think of all the things we learned. For the people who are still alive. Go ahead and leave me. I think I prefer to stay inside. Maybe you'll find someone else to help you. Maybe Black Mesa. That was a joke - Ha Ha! Fat Chance! Anyway, this cake is great. It's so delicious and moist. Look at me still talking when there's science to do. When I look out there, it makes me GLaD I'm not you. I've experiments to run. There is research to be done. On the people who are still alive. And, believe me, I'm still alive! I'm doing science and I'm still alive! I feel FANTASTIC and I'm still alive! While you're dying, I'll be still alive! And when you're dead, I will be still alive! Still Alive! Still Alive..."
I didn't use all of it, just some of it.
Step 4: Rotate the text into place
Step 5: Add some light using glow. Be sure to create different values.
Step 6: Group the lines of text together, and mask the ends to make them disappear at both ends.
Step 7: Create a "spot light" effect by adding a circle of white at the bottom.
This didn't turn out as I intended, but I still think that it came out beautiful.