CNet has a solid article about the state of net radio today. Some highlights: "'We are entering a game of last man standing. It's really a question of whether they [online broadcasters] can keep cash in the bank until the advertising market picks up' (Ryan Jones, Yankee Group)....Microsoft has made digital media and music a centerpiece of its Internet strategy, aggressively pushing its Windows Media format....Meanwhile, online music services are dying like flies. The toll has been especially heavy in the past few weeks. Among the casualties are ClickRadio, Uplister and NetRadio."
I used to listen to NetRadio a lot. They shut down a few weeks ago, but their sign off leaves the door open to a return. In the meantime, plan on hearing a lot about MSN Music, PressPlay and MusicNet.