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Hetzner 'Cloud' is definitely the way to go. A few euros for a semi-performant VPS with 20TB monthly bandwidth. I've been using a handful of these as cheap streaming relays for maybe 6 months now and haven't had any issues. Bandwidth is burstable up to 1Gbit/s and probably beyond. It's cheaper to buy more instances and scale horizontally, if you can, but if not bandwidth overages are dirt cheap.
HostClean HCR - VPS 4
Romania, 3GB RAM, 2 cores, 30GB SSD, bandwidth unmetered, $10/month.
https://www.hostclean.net/openvz-ssd
Please remember to do your research first.