You no longer have to be "special" to live stream via YouTube, previously the feature was only available to a select few popular accounts on the service, but now it has been made available to anyone, providing your account is in "good standing". The feature will be rolling out worldwide in the next couple of weeks, so if you don't see the option, you simply might not have it yet.
Those that have the feature already enabled and who want to live stream will need to verify their account, which involves little more than receiving a code on your handset and entering it into the verification field, and you're all set.
The feature also means you'll be able to hold a Google+ Hangout on Air from the Youtube Live Events manager, making it easier to get the entire process started and simplify the procedure of inviting potential viewers.
All the details on getting started with verifying your account can be viewed on the service’s company blogspot.
Source: Slash Gear