You didn’t mention your budget. That will impact things.

If you have a closet with a rack you have a lot of options, hardware-wise. If you’ll be running this in your living room, for sake of your sanity, something like an AMD mini-PC with a small NAS for additional hosted storage via NFS would probably be your best bet.

A PC with Proxmox could do this handily. I have a cheap Ryzen 5500u mini PC hosting my Plex server, audiobookshelf, home assistant, and DLNA server (AssetUPnP). It’s only 6 core/12 thread and32GB RAM but still has resources to spare. You could totally do an 8c/16t one and throw more RAM at it.

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Edit - oh, and don’t forget that if you’re going to be hosting a public instance, you’ll need a good internet connection (with good up and down speed, generally fiber is good for that) and a public IP.

Actually, I’m gonna add another really simple option: Lyrion (Formerly Logitech Media Server). My wife swears by this one, supports local library, integrates with LastFM, and if you use Tidal, Qobuz, Deezer, or Spotify, you can integrate your streaming service with your local library for radio mixes.

Can install it right on a laptop or PC and connect to wherever your music is (local on the machine, on a NAS, etc.). After you install it, you can access it directly via a web browser or webapp, which will make it accessible from desktop or phone.

Not necessarily overkill, you can run Plex on almost anything. I used to run it on an old NUC6 I had laying around, then upgraded to a NUC8, and more recently I setup it up as a VM on Proxmox on a Ryzen 5700u mini-PC and just reimported the DB.

Virtualizing it has been good for my purposes since now it’s running alongside AssetUPnP, AudioBookshelf, and a dockerized squeezelite setup, and I’ve another VM on the host running Home Assistant with still plenty of resources to spare. Crazy we can do that now with a “server” that literally fits in my palm.

But virtualizing it makes hardware acceleration for video transcode be I more complicated, just a heads up. I play everything native so don’t use it, but YMMV.

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Edit - Plexamp is an awesome radio/DJ player, though I generally send to a Wiim Mini, as AirPlay quality with Plexamp can be kind of ass compared to direct DLNA.

There are lots of solutions, but as others have noted, Plex with Plexamp is great.

I’d recommend getting a NAS for storage and running mirrored disks. This way you’ve got some redundancy in the event of a disk failure.