YouTube is to host its first ever live-streaming event in San Francisco in November.

The event has been described as "part concert, part variety show and part party" and has been aptly called YouTube Live.

The concert/party/show is to be broadcast live on YouTube, and also shown on Virgin Air flights.

The event is one step closer to YouTube hosting live streaming on its site, something the website has threatened to do since the beginning of this year.

Adding live streaming to the website will open up a whole host of advertising opportunities for the site, something that will be welcomed by Google who has struggled to bring in revenue from its acquisition, despite the huge numbers visiting YouTube daily

YouTube: defining pop culture

Those who want to learn about more about YouTube Live should go to www.youtube.com/live.

If you're into your chart-friendly hip-hop, then the event should be for you. It features Soulja Boy Tell'em – who rose to fame via the internet – Akon and The Black Eyed Peas' Will.i.am.

Speaking about YouTube Live, YouTube co-founder Chad Hurley said: "For nearly three years the YouTube community has been defining pop culture and in the process has made the site both a place to find and be found.

"YouTube at its core is a platform where everyone from the famous to the seemingly unknown shares a single stage and YouTube Live is a physical manifestation of this idea."