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  video site is taking that concept to another  the launch of YouTube live streaming as it looks to  upstarts like Ustream.

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

Through the end of day Monday, each will stream several live programming blocks. For example, at 10:30 PST on Monday,  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 realtime.

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, Justin.tv 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.Read more at www.mediaweek.com