Steam Broadcasting allows players to stream their live gameplay to friends, strangers and any Steam user between, without any third-party programs required. To stream a game, simply start playing. Players are able to keep their gameplay private, too.
The first time a friend requests to watch your live game, you’ll see the broadcast privacy settings, with choices to allow friends to watch, request to watch, receive invites to watch, or to allow anyone to watch your games. Choosing “Anyone can watch my games” makes your stream appear on that game’s Hub.
“You’ll receive a toast when a friend either requests to watch or starts watching your game,” the Steam Broadcasting FAQ reads. “At any time you can see a list of viewers from the Steam overlay broadcast box, or if you’re watching your own broadcast, from the top of the chat.”
There’s no option to record broadcasts on Steam yet. Those in the Steam Client Beta can try out Steam Broadcasting right now.