Instead of engineering their own in-house video solution, Tumblr Live is essentially a plug-in for live video tools already in existence. Initial partners include YouTube, YouKnow, Upclose, and Kanvas, with presumably more available in the future. Each partner has their own iOS and Android apps, making Tumblr Live, basically, platform agnostic (sorry Windows Phone users).
Tumblr Live videos can be reblogged like other posts, and are viewable after the the live transmission has ended. Followers receive notifications when users go live, and videos are snapped to the top of their dashboards when they next log-in to Tumblr.
Though there may be little impetus for Facebook or Twitter to incorporate their live products into Tumblr, the potential boon for the Yahoo-owned network would be great should they decide to.
Tumblr also discussed plans to work with premium partners such as Mashable and MTV stream events live, potentially exclusively on the platform.
Tumblr Live video rolled out for all users globally earlier this week.