Need clarification on what I'm doing

Hey, This question is first, moreso on the "Can I/Should I/Will You Let me part of things.

I want to create an app/website that rips away the video and creates a radio. The idea, is so that people can connect it to their bluetooth car and listen on the go. Another advantage is for users with low bandwidth, who would just watch to listen to the action. It’s also great for podcasts.

Now, the obvious problem I’m sure that is concerning, is revenue. Providing that the source I pull audio from has ads, so will this version. Now I’ve been thinking about doing this in a few ways, and I think I’m going to first limit it to e-sports tournaments only. Right now I want to run each process in a browser with a virtual audio device restreaming it, so if ads are served to me, I’ll send them. Now this begs the question, where should I host the server to get ads?

Next: I need to find a way to stop users from just adding every little steam to this system, Is there a way I could only allow channel owners to request a service like this to be around?

Latency: I’ve actually never run a windows machine and an 8 hour tournament steam all at once, I assume because of flash, it will get very laggy at some point and de-sync, is there an HTML-5 player that won’t de-sync? Or is this something I shouldn’t worry about, as it won’t lag past ~5 minutes.

This will be completely free on my end, no ads from me or anything, (In app or site). I’m not trying to profit off of others hard work.