From a SL newbie:
"I am looking for someone with great patience to walk a relative newbie through what is involved in streaming audio into a parcel. I'm not looking for a stream that is set up already, but one where I can designate what is being streamed, to include live voice (for presentations, etc...). "
From an Expert
Live audio streams must be in mp3 format to play on the music channel; I always test the stream first in iTunes or Media Player.
In SL, you need to have rights to edit your land; look under the About Land menu, media tab. You paste the URl into the audio field, which activates the music player for the parcel.
How the streaming is generated requires a service that can generate the stream (usually something you pay for), and you connect your audio sources via a tool that can do Shoutcast style communication form your audio source to the streaming server. We've done this via just the mike in a computer, via a device that bridges from a telephone (so guests can be on a conference bridge), or Skype.
Some details on our methods from NMC are at
by Alan Levine of NMC