Tried Youtube Live!

Basic ingestion

Feature

Real-time transcoding (send only best bitrate)
DVR (pause, rewind, and resume an event)
Dynamic bandwidth adjustment
InVideo Programming - add water mark, logo, Featured Video (display uploaded video, VoD in live video)
Unlimited concurrent user, possible up to 700,000 Concurrent Viewers on Akamai
Free wirecast for youtube application

Limitation

Recorded events up to ??? ~~4 hours long~~ (I tested with 6 hrs and it working fine). Noted: Youtube online video editing can't edit video that more than 2 hrs.
DVR - Allow viewers to pause and rewind your event. There is a 12 hour DVR limit.
Don't broadcast copyrighted content - If you continue to stream that content, your event will be stopped automatically and live will be disabled on your channel.
YouTube Live streams cannot be viewed from Germany.
No any AD. - It is against Terms of Use to include third-party advertisements in live streams. This includes burned-in commercials (for example, video content from a television feed).
background source/music and any TVC may break rules.
UpStream need sent video to Youtube servers. (Inter Bandwidth, i.e. 74.125.128.150,a.rtmp.youtube.com NY)
DownStream depend on ISP cache

Competitor

Reference

Patrickz::just a Developer