A Webcast is the relay of video in a compressed form over the internet to a user who is able to watch the video, in a streaming form, frame by frame. The process requires a broadband video connection, a web browser, a media player and a computer or a desktop box and TV.
How is the video relayed or transmitted to the user? It is carried out by a process called webcast hosting on computers called webcast hosting servers. There is software, which are capable of webcast hosting.
Helix server unlimited is an example of streaming server software, which is capable of hosting and delivering live video feed content in real audio format.