Justin.tv Testifies to Congress about its Copyright Protection Systems
c-spanarchives.org
c-spanarchives.org
EDIT: The page referred to seems to be http://www.justin.tv/p/video_games (since renamed to "Broadcasting video games") and indeed seems to be cast in terms of video game broadcast, but afaict the instructions would work just fine for broadcast content as well.
Michael then does an excellent job outlining the company and, most importantly, the purpose and vision behind the Justin.tv product.
As a side note, live broadcasting has a huge advantage over recorded tv. Ads can't be removed. Just put the feeds up for free and make your advertisers pay more.
Internet is fast becoming a necessity for most people. Cutting off a family for one kid's actions is not the way to go. Or a whole coffee shop as another example.
Unless that editorial control is 100% accurate and 100% effective, any error whatsoever will make JTV liable for damages.