Taking a page from Twitch.tv Valve has launched Steam Broadcasting allowing Steam users to broadcast their games and watch other gamers who are broadcasting. The very public beta of Steam Broadcasting was launched yesterday and it is built right into the Steam client. You also have the ability to watch games via your browser through the Steam community right now.
What makes Steam Broadcasting a little different from other game streaming services is that you have the ability to have more private forms of streaming. You can automatically start streaming to people on your friends list if they want to watch what you are playing. You can send your friends requests that you are streaming or just set your streams to invite only. Of course you can also make your stream public to the world.
Since streaming is built right into the client it makes it extremely easy to start streaming. You don’t have to close your game and open up your streaming software.
Right now anyone who is logged in can watch streams through the Steam site and client. These streams will appear on game pages and community hubs if the streamers set them to public. If you want to stream you need to opt into the beta client. Open steam and go to the settings, head over to the account tab, click the “CHANGE” button under beta participation, and select Steam Beta Update under that menu. They are you able to stream and have the ability to right-click on names in your friends list to find an option to start watching them if they are streaming.
Check out the Steam Broadcasting FAQ more information.