Earlier this evening on UStream you could watch the first three songs of the Bon Jovi concert happening live in Seattle -- with social channels on the side. 77,000 people tuned in.
Now, despite the transmission being over, the social stream is still very active. A TV programmer's dream.
If you browse around the other live channels on UStream you will find the ultimate in niche channels. Each live channel might have 10-50 viewers. This make cable look like network TV.
There are a number of platforms for broadcasting live video over the net. None have gone mainstream as of yet.
What will be the killer content for this medium?