YouTube debutted "live streams" in partnership with Akamai about two years ago. It'live streamed presidential speeches, healthcare debates, cricket matches, and a U2 concert. A new screenshot below hints at what that might look like. Max Haot, CEO of Livestream, believes the screenshot provides "strong evidence that Youtube is about to launch a live streaming feature," despite the fact that it looks like the "Live Stream" button is only enabled right now for YouTube employees. "We're not sure about their choice of name," he adds.
The simple explanation here's that the screenshot, which was put up to illustrate a different feature (Moderator module), comes from a YouTube employee with producer access to CitizenTube, the YouTube political channel that often shows live streams. Inside YouTube, that's the button they use when they want to run a live stream.