Most people pay for a shoutcast service, co-locate a server, host small servers on their local cable / dsl modem, or install via SSH to their web host.
Make sure you have Unlimited Bandwith on your web package if you plan to host the shoutcast server on your web server.
The bandwidth usage depends on "# of users connected" and the quality of the song in kbps.
uploadspeed / bitrate = max listeners , always leave some for overhead
Example: 256k upload speed / 56k bitrate = max 4 listeners ( 4* 56 = 224kbps ) keep in mind that your provider says he gives you 256kbps upload, the actual speed might be much lower.
Bitrates
192k CD quality
56k stereo
24k mono (like an AM radio, but works for music)
8k voice
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