If you had asked me a year ago what "livecasting" was, I wouldn't have had any idea. But my son has dabbled in it lately. There's a website called Twitch that has hundreds of these livecasts. If you go to Twitch you'll see people have set up accounts where you can go and watch someone play a video game and join a discussion as they play. My son has one of these accounts. I think he's done a great job branding himself and doing all the work that's required to get up and running.
We did the same thing when I was a kid--sort of, except for logging on to a computer and joining a discussion group, my friends and I would crowd around an Asteroid machine or a Pac Man game or Space Invaders or Joust, and we would watch as our friends played and comment on how well (or how poorly...) they played.
Such was livecasting in our day.
Things have changed. Now a person can set up an account, get followers and have a great time learning something new and hanging out. Yes, things have come a long way since we would line up our quarters on the Asteroid machine at the Farmington AG market. Now we can play video games and the entire world can check it out.