Steam has begun the beta of Steam Broadcasting. The new feature allows players to stream video of anything they start using Steam, and it allows friends to request a stream whenever their buddies are playing. It’s not quite at the professional level of functionality, and the official FAQ has some interesting caveats, but eager testers have already started broadcasting their gameplay.
Crucially, there doesn’t seem to be a way to monetize the experience yet, so Twitch can breathe easy for now. They won’t be losing any heavy-hitters without a way to make money. Perhaps Valve can offer cosmetic hats for broadcasters, or maybe they’ll roll out their own version of Patreon or Kickstarter and get the lock on all of gaming’s cash?