On the RTSP protocol and streaming server

I would like to set up a streaming server for audio broadcasting. Users will use a third-part application to generate the stream (https://obsproject.com/ for instance). I have a few questions regarding audio streaming.

1. How can I set up my own Streaming Server with RSTP?

2. How could I play the stream on a website? I have found this http://ift.tt/1u2AIUn but basically how does it work? As I see the thing, a user generate a stream with a broadcasting software, connects it to a streaming server and then the stream is played with a basic web audio player on a website? Is that correct?

3. What would be the difference with a basic radio station?

Thanks for your help,