YouTube: We'll have live video this year

While YouTube is best known for its work in promoting social video, the company is looking to live video as its next format. In an interview with NewTeeVee, YouTube founder Steve Chen said that the company plans to introduce a new live feature sometime this year. He said that the company had always wanted to do it, but didn't have the resources. Now that YouTube is owned by Google, Chen said the resources are now at their disposal.

Analysts say that YouTube is likely to quickly build momentum in the marketplace, which is primarily due to its already strong presence in social video. "Like video, content creators want to be on the service that gives them the most exposure, no matter how good the alternatives are," Duncan Riley wrote for TechCrunch. "YouTube already has the user base; live video streamers will flock to YouTube like a moth to a flame."