Online video is certainly a hot thing right now, and it’s become easy for anyone to either watch or create their own videos on the Internet. This isn’t just some fad, either. This is the future, and many people have opted to get rid of their cable or satellite television service and stick with what they view on the Web. Most of the time what you watch online is prerecorded, but live broadcasts are becoming more commonplace thanks to services like Justin.tv, Ustream, and Qik. These live video broadcasts really bring online video to the next level, and some of the major players in the technology arena have taken notice. Yes, even Yahoo! has now thrown their hat into the ring with Yahoo! Live.

The interface is slick, and Yahoo! Live contains many of the same features that are a part of other live video services. For example, these live sessions can be embedded, and things get interactive though text chat and other means. Since Yahoo! is such a large company, you might expect their network to be able to support the demands of this service, but it’s still an experimental release, and it’s just not very stable right now. Because of this, Ustream and the others are making Yahoo! look bad, but hopefully the reliability will improve so that Yahoo! Live can become a true contender.