There are a few live streaming services on the Web, but Kyte is taking a different business approach than consumer-focused products like uStream. The focus for the company is to sell its services to professional content producers, such as its existing users like The Pussycat Dolls, 50 Cent, The Huffington Post, and Spin Magazine.
Given the cost of bandwidth and the potentially large market for professional live content, I believe this is a much smarter strategy than going for the consumer (technically speaking, the "onesy-twosy" market).
To support pro users, Kyte is layering features like an offline capability (the phone records when you're not in cellular coverage area) as well as the feature that lets you delay posting an online clip to your audience until after an editor has a chance to review it.
Coming later to the Kyte platform is support for third-party advertising platforms (DART is next), as well as an analytics function so producers can tell who's watching what and when.