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Embedding ads in the listening stream only serves to annoy the listener. Haven't you noticed the decline in radio? Who listens to radio at home anymore? You just do it while driving since they have a captive monopoly.
This will simply hand the monetization to the implementors of the p2p apps. Build your own download servers or license people to do it for you. If you drop the DRM and license fees on the downloads, people will freely delete the files and redownload them multiple times (more pageviews).