Unfortunately, you cannot sell any advertising on your station.
When you sign up for a Live365 account, you can opt-in to the Advertising Revenue Share Program. By being a part of the Advertising Revenue Share Program, you agree to give Live365 exclusive control of the ads played on your station. Due to the agreements with our advertisers and the Performing Rights Organizations, insertion of any third party paid advertising in your station’s programming is strictly prohibited.
You can choose to opt-out of the Advertising Revenue Share Program by choosing an ad-free broadcast package. This means you can have an ad-free station. Unfortunately, Live365 Broadcasters cannot insert paid advertising even if the "no advertising option" is selected.
You can read more about the Advertising Revenue Share Program guidelines here.