YouTube has announced plans to launch a live video-streaming site later this year. In an interview with Sarah Meyer of Pop17, which was posted on her blog, YouTube co-founder and chief technology officer Steve Chen confirmed the service will go ahead.

"We'll do it this year. Live video is something we've 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," he said.

Yahoo launched a similar live video service in February, which allowed users to see other viewers watching the video if their webcam was connected to the service.