Complex sentence: The internet player allows subscribers to customize most stations to their liking by adjusting settings like: familiar/hits or unfamiliar/depth, studio recordings or live performances and new/recent or old/classic material.
Split into simpler sentences: The internet player allows subscribers to customize most stations to their liking through adjusting certain settings. Examples of such settings include familiar/hits vs. unfamiliar/depth, studio vs. concerts, and new/recent vs old/classic material.