The below samples are an example of using an embedded Flash .swf to stream audio. It's done quite easily. See the images below for an explanation.
The way it was done: First off, I made movie clips that have the audio within them. The layout of all the clips is specific to the example below.
The three movie clips (or more, it's not limited) are placed on the stage.
Each of the movie clips is named. The names are referenced in the HTML source.
By clicking the below links the audio in each of the movieClips embedded in the .swf will play. The nifty thing is that they can play overtop of each other and multiple times in a row.
Play a sound from the Prisoner or maybe listen to Ronnie. Of course there's always The Simpsons.