Video publishing, analytics, and monetization company Ooyala announced today that it is launching a live video streaming service supplemented by a real-time analytics tool.

Ooyala is trying to make a name for itself in a market already well-saturated with competitors like Ustream, Qik, and Justin.tv by offering real-time analytics as a major selling point to its live streaming service. Clients can create a live stream from the console they normally use to manage their Video-on-Demand content. During the actual streaming, Ooyala customers can now initialize an analytics engine that feeds real-time information, like viewership statistics, straight from the dashboard.

According to Norton Isaac, CEO of Speedbox.tv, "the advanced analytics help us drive our strategic partnership decisions because we can see exactly where in the world our content is being consumed." The technology could be a boon for companies who rely greatly on live video streaming.

In addition to the analytics tools, Ooyala provides all video content providers with advanced syndication controls, player branding, video search, and monetization models.

Beyond the nitty-gritty, a quick tour of Ooyala's Web site reveals a clean interface and smart design, essentials for any company providing a product directly connected to a user's aesthetic experience on the Web.

The company, already having shared its live video streaming solution with customers like Electronic Arts, AVP, and Arsenal, has demonstrated that there's a real need for its product. Founded in 2007, Ooyala has raised $10 million to date and is showing good promise with its advancements in online video.

"Live video is one of the fastest growing segments on the Web," said Jay Fulcher, who was recently made CEO of Ooyala. "Companies are using live video to increase brand affinity and revenue."

Fulcher is right, with mobile live video seeing the biggest spurts in technology development as well as rising popularity.