Despite previous statements declaring that their online service would be offering live video streaming some time this year, a source inside now states that YouTube won’t be going live after all. There goes the business plans of several planning to make a buck off the live streaming idea, like the somewhat cult-popular lifecast justin.tv. Some outsiders have thought this was the next expected step for YouTube, being that they make a killing in the market for pre-recorded Web video. Even Steve Chen, Co-Founder of YouTube, lent plausibility to the leap to live streaming when the idea first hit the public’s ear by telling Pop 17′s Sarah Meyer’s “Live video is something we always wanted to do but haven’t had the resources to do it correctly, but now with Google, we hope to launch something this year.” Well, that was in February, and it isn’t happening, and sources say it won’t be happening next year either.

While Justin.tv seems to be pretty neat, personally I find watching most of those channels just about as boring as could be. However, this latest incident just goes to show that if you watch something, or in this case point a camera at something long enough, you will at least catch something useful or worthwhile. more »