Would I need a fast mbps rate to host audio streaming?

My ambition is to create an iPhone app, in which users will be able to listen to streamed music (like Pandora, or Spotify). My concern is if I'll need a quick net speed to accomplish this fluidly (current is 10mbps down, 3mbps up), as I want as few listeners as possible to have to face buffering issues. I'll be using a PC (Lenovo Z40, if specifics matter) as the dedicated server to host the music being streamed. Could anyone assist?

Off subject: Using a PC as a server is most definitely a bad idea.
Audio files are not that big. A song is usually 3 or 4 MB, so streaming with your internet connection, you could probably supply 10 people at once, since you don't have to sent the whole song at once, just bits of it as the user ask for more. If you aim this application at a small group, you could proceed with this idea, but if you want to make it world wide, you'll have to rent a server in each and every country you release this application in.

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