Our local folk club had a trial run on Zoom last night. Yes it worked, although you can't all sing at the same time and hear each other, and there's a slight time delay. But the host can mute all except one, so we can all hear that one perform.

So for 40 minutes or so we heard a few songs, chatted a bit, admired each other's loo roll collections, etc.

I believe if the host coughs up for the fee for the full program, there's then no time limit. It's not expensive, especially if you all share the cost.