According to the site, "We are an innovative live streaming platform with a vision to provide a powerful yet easy to use technology and put it in the hands of individuals and organizations to help them connect with their friends, customers, constituents, followers and supporters."
Though it once offered the ability to create a streaming Internet radio station, that capability seems absent from it's current offerings. What the site will do is allow you to set up a free video broadcast that supports up to five viewers simultaneously and then upgrade to more powerful streaming should you wish to.
For under $150 dollars a month, you can actually pay for a package that allows unlimited viewers. There are cheaper and more expensive options as well. You can see them here.
uBroadcast.com offers free software to create your station. It's called the uBroadcast Channel Manager and the site says it is a drag/drop simplistic solution to creating a streaming video channel.