I offer live event streaming through Ustream and YouTube Live.  Here is how it works:

Live streaming network diagram

I bring two HD cameras.  I can also add presenter's desktop stream using Telestream Desktop Presenter.  I combine these streams and encode the result on my own computer running Telestream Wirecast.  This computer will have to be connected to the wired Internet. You will need about 2Mbps Internet uplink speed to broadcast in HD.  You may use your own Ustream or YouTube Live account, or we can use my account.
 

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