Andrew Wolan will be starting a new radio station soon; the info is located here, but here is a quick snippet with the good news:
I installed the SHOUTcast server on our Linux server with near success. I was able to broadcast an audio stream to the SHOUTcast server and rely it to listeners in the USA, Brazil and Israel with no skipping! (My college in Israel reported some skipping in the beginning.) Thus, we should be able to go ahead and start the Internet radio station as planned which will have little to no skipping!
…Also, since configuring and spawning additional SHOUTcast servers is not a major problem, we should be able to support multiple affiliate stations. This would allow the public to sign-up and get access to forward a broadcast to one of the affiliate station that will be relayed off our server to the rest of the world. The affiliates do not necessarily need to follow a “Sonic the Hedgehog” theme. We can have live talk shows with IRC interaction, we can have streaming music that is in formats other then MP3: how about MIDI files or SNES-SPC format? The possibilities are huge!
I’m certain that not everyone can dedicate a connection to the internet 24-7, so a rotational scheme of “shows” can be enacted to allow people to have their own show for a time frame they feel comfortable. Thus a “true” 24-hour radio format is possible.