Back in the summer of '99, I used to review local DC bands for an internet newspaper that has since folded. I had a blast doing it - free shows, free CD's, lots of mindless groveling by band members to puff me up and make me feel important. One of the bands I saw and interviewed was Mobia's Trip, now defunct. I spoke primarily with Josh Edelstein, the bass player.
He told me about a project he was working on, basically an internet radio station - at www.groundwaves.com - digital radio "for the global underground". He had been thinking about it and how to do it for several years. And I was curious as to whether it was still active - he had the name registered at that point, but little on the site. It's still there! "This is every local band's dream - how to connect with a broader audience without a label."
The bands are definitely diverse and although the music isn't live, as there isn't money to pay a staff, so songs are just jukeboxed at random. They're hoping for word of mouth to add listeners; there are no ads associated with this site. It's definitely worth checking out, INMHO. I love learning about new bands and hearing new music - it's always inspiring to me.