I think from storage and bandwidth perspective it's considerably better than video. Though by hosting the data they might be subjected to copyright challenges or royalty fees.
You might remember when there were a lot of internet radio stations out there. Thousands of them. Tons of musical styles to choose from. Not so many now, are there?
The reason most of them have gone away is because those wonderfully nice folks over at the RIAA decided that royalties should be paid for songs broadcast over the internet, same as is already required of traditional radio stations. And to be fair, I see their point. The problem is that the royalty fee is the same regardless of the number of people listening to your broadcast, or if your broadcast is a commercial venture. The larger stations, that had incorporated commercials and supported tens of thousands of listeners, easily pay the fee and carry on. The smaller stations couldn't justify the expense given what was for a lot of people just a fun hobby, and shut down. Myself included.
In my mind, the fee should only apply to broadcasts that generate revenue. Don't run commercials, you don't have to pay the fee. Unfortunately, that isn't how it works, currently.