All depends on how you want to go at it. If you want to host your own material on your own server; obtain the software for SHOUTcast or IceCast. If you go this route, you’ll most likely need to pay the MP3 fees, especially to use SHOUTcast, other then that you could try a different format like LAME, OGG, etc. Now you can find specialized service providers/hosts if you want to take the stress out of owning your own server. Some decent SHOUTcast providers range from 5-15 USD a month. I’d suggest setting up with two servers, this is essential especially if you have a large listener base. Kind of think of the multiple servers as having a reliable back up or extension. If you are working on a budget, I suggest MIXXX, it is free and opensource and supports SHOUTcast and IceCast built in. There are some free hosts out there as well, but they tend to offer low stream quality and or low listener slots.