Clayton,
The costs can vary depending on how much you want to put into it.
For example, a "personal" station on Live365 cannot sell instream ads. You can only sell ads on your website, use affiliate links, request donations, etc..but not on the stream itself. These stations cost in the neighborhood of $30-40 a month and are basically "hobbyist" stations. Not to say they are not professional in most cases, but they are classed as "personal."
Pro stations on Live365 start at $107 a month. That is for the intro package. If you go over a set amount of listener hours, those extra hours equal extra money. They can launch players from their websites, run ads,
do on air promotions and such.
I have had a station on Live365 since July 2001. It has survived primarily on donations, but overall, it does not make money. With the royalty mess going on, I have not felt like trying to build a business that could crimble any day. If there is ever a satisfactory outcome, I will definitely consider upgrading.
Because I also have 2 studios and a sister Part 15 AM, I would guess I have about $10k in everything.
The Part 15 runs some ads; the internet station carries only Live365 network ads.