http://www.gracedigitalaudio.com/duploads/mini-sites/IR1000B/grace-wireless-internet-radio.html

The most common way to distribute Internet radio is via streaming technology using a lossy audio codec. Popular streaming audio formats include MP3, Ogg Vorbis, Windows Media Audio, RealAudio and HE-AAC (sometimes called aacPlus). The bits are "streamed" (transported) over the network in TCP or UDP packets, then reassembled and played within seconds. (The delay is referred to as lag time.)

A November 1994 Rolling Stones concert was the "first cyberspace multicast concert." Mick Jagger opened the concert by saying, "I wanna say a special welcome to everyone that's, uh, climbed into the Internet tonight and, uh, has got into the M-bone. And I hope it doesn't all collapse."