Live Events are broadcast-style activities that can be used to stream content to thousands of users. Live Events can be coordinated in several services, including Yammer, Stream, and Microsoft Teams, and can be produced through the use of external equipment (such as encoders that can send RTMP or RTMPS data) or through applications such as Teams. 

When deciding which method to use, you'll need to evaluate the requirements. For any of the external production methods, you'll need to use an encoder that is capable of sending an appropriate RTMP stream to Microsoft Stream. Microsoft has tested several encoders (the list is available here: https://docs.microsoft.com/en-us/stream/live-encoder-setup) and makes instructions available for manually configuring encoders. However, if you don't have dedicated recording and encoding equipment available, you'll likely want to use an application such as Teams to host and broadcast your content.

The methods for configuring and producing live events is similar across applications, as you'll find out as you read on.