ultimately, it's just a file sitting on a web server somewhere and you need someone to host that file for you. is it you? is it a company? what do they charge? what services do they offer along with hosting? think of it as a very specific type of website and you're buying webhosting for that very specific website.
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I think the confusion is theres really two pieces of info being hosted. Your media files (audio and artwork) and your rss xml file (aka your rss feed/metadata)