Sony has just released an app exclusive to Xperia devices called Live on YouTube, which does exactly what you expect it would. Users can boot up the app and start a live video stream from their Sony smartphone's camera, keep tabs on how many viewers and likes they have, as well as share links to the online broadcast to anyone they think would be interested.
Of course, like anybody using YouTube Live, your Google account and video channel need to be in good standing in order to try this out. Generally, you can do that by not posting trademarked material, which the app will warn you against doing before you start broadcasting. No doubt shooting continuously and streaming over LTE will be a bit of a battery hog, but for the right events, it could be exactly what you need.
It's a bit of a bummer that this is only for Sony phones right now, especially since this sounds like a feature that should be baked into the native YouTube app anyway. In the meantime, there are plenty of ways to find the APK and try to get it running on your device, though it's pretty hit or miss when it comes to Sony apps.
How many of you guys are rocking an Sony device, like, say, the Xperia Z2? Have any intentions of starting up a YouTube Live stream for any reason?