Coincidentally, this was just posted on Mac Rumors...
Quote:
Speculation and rumors regarding tomorrow's iTunes-related announcement are continuing to come in from all directions, and the latest bit of speculation relies on some bits of information pulled out of the iTunes 10.1 release from last Friday to suggest that Apple might be looking to launch some kind of "iTunes Live Stream" service. Details on what exactly the service might be, however, remain sketchy.
As noted, however, it is unclear what iTunes Live Stream actually is, with speculation ranging from live streaming of existing television content to something more along the lines of user-generated streams of live video or audio content.
Apple has been testing some aspects of live video streaming in recent months, rolling out its own HTTP Live Streaming technology based on open standards to deliver live video of its September and October media events. And with the company's new data center in North Carolina set to open by the end of the year, the company would seem to have ample backend capacity for such technology to be deployed on a broader scale.
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http://www.macrumors.com/2010/11/15/...n-itunes-10-1/