Video recording service Ustream is best known for streaming live video on the web. To complement the web service, Ustream also launched an iPhone application so that users could watch services that are streaming on the website already. There was a rumor floating around that the company was planning to upgrade their application so that iPhone users could stream video themselves.
That rumor has become invalid after it was revealed that Ustream has announced a new application called Ustream Recorder. Ustream Recorder is a free application on the iTunes App Store that allows users to upload recorded video on the iPhone to the Ustream website.
The problem with streaming video from the iPhone is the bandwidth costs that AT&T has to deal with. AT&T has bandwidth caps which limits the power Apple can give to developers.
Along with the ability to upload video on the Ustream website, videos can be shared on Twitter, YouTube, and Facebook. Videos that you have already uploaded on Ustream can be edited and managed by the application too. To edit them, the videos have to be downloaded.