It was only a matter of time, but it seems Valve has entered the streaming ring. With the new Steam Broadcast, it allows anyone to stream games they are playing to other users of the Steam service.
From what Valve has shown, it will be as easy as selecting a friend from a list and clicking "Watch game". It's such an easy solution, using software most people already have on their computers was a smart move on the side of Valve. The only real question is how will it take on Twitch.
Twitch accounts for almost 43% of streaming by volume, and is the king of the streaming realm. With more and more people using game play as a form of entertainment and more people following the world of eSports it is no wonder Valve wanted a piece of the pie. The fact that Twitch does not require any app beyond a browser does give it a slight advantage, although if anyone can take on Twitch, it would be Valve.
I know I will be testing it out and seeing how well it compares to the competition. Only time will tell how many people really take advantage of the feature though.
For more information on Steam Broadcast, check out Valve's new description page to find all the details.