How will the launch of YouTube’s live streaming impact Ustream? Will the Flash/HTML5 battle keep me from uploading a YouTube live stream to my iPhone? These and other burning questions “As The World Turns”.

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YouTube’s tagline has always been “broadcast yourself.” Now the
Google-owned video site is taking that concept to another level
with the launch of YouTube live streaming as it looks to compete
with upstarts like Ustream.

On Sunday (Sept. 12) YouTube kicked off a test of the new live
platform with four partners: Howcast, Next New Networks, Rocketboom
and Young Hollywood.

Through the end of day Monday, each will stream several live
programming blocks. For example, at 10:30 PST on Monday, Young
Hollywood will broadcast an interview with skateboarding legend
Tony Hawk live from the company’s studio. Besides live video, the
new streaming platform allows users to post comments in real

While starting with professionally produced content, YouTube is
billing its streaming platform as a way for anybody with a Webcam
to become a broadcaster. It’s that open access that has driven the
success of Ustream, and live-streaming outlets.

YouTube officials said that it will review the results of this
weeks test, but plans are in the works to roll out live streaming
to more partners.