The biggest money mover on the web industry lately has been the live video niche, which it isn’t anymore. Some big players have joined the bandwagon, and have introduced live video. Justin.TV and Ustream got the ball rolling some time back, which was by that time a fringe section of the huge video market.

It’s somewhat weird that this whole market had been dormant for so long, while people watched Reality TV shows like there’s no tomorrow. There’s nothing new about the format, there’s nothing as real as watching some anonymous dude ranting about how much snowed last night. But people still preferred to watch pre-packaged, nicely produced reality TV.

Slowly, but surely things started to change and live streaming websites started popping all over like mushrooms. Then Seesmic, came along not without some controversy, and even Yahoo launched it dubious named streaming service called Live.

Youtube had been sitting this one out, ignoring the movement, ignoring all the rage about being able to diss someone live and "face to face". Until Youtube’s Steve Chen drops the hammer and announces that Youtube will add live streaming this year.