The folks at the very popular Yahoo! have come up with a new experimental live video streaming service called Yahoo! Live.

Yahoo! Live is basically a free-to-use live video streaming and video casting service which allows anyone with a webcam to create their own live video experience. Much similar to what we call vlogging, lifecasting etc now a days. Users can broadcast anything they want, anytime and at any place.

Yahoo! Live users can broadcast live video from a concert, from their bedroom, from their city or virtually from anywhere around the globe. DJs can set up their own webcast and business officials can have real-time live webinars.

What makes Yahoo! Live different from other video streaming services like MySpace and YouTube is that every content you see on Y! Live is broadcasted in real-time. Means you will be able to enjoy live concerts right on your computer including live performances by singers and musicians.

Please don’t be afraid if you see the above error message often on Yahoo! Live. It is an experimental service so you should expect some bugs and other problems too.

Follow Yahoo! Live on Twitter or subscribe to Yahoo! Live Blog for notable headline broadcasts and Y! Live news and views.