The videosite handles both live streaming and on-demand video equally well. The live section explains all the details about setting and streaming a live event. What you will want to consider when live streaming to the videosite is to make sure that the event gets published there well in advance (read about publishing video).
A created live event will show a player counting down to the scheduled start time of the event. This is provides the ability to advertise and market your event to the intended audience well in advance. Use the social media icons to share the event in your social media channels or simply use the SEO friendly url in an e-mail marketing campaign.