With the ever-growing popularity of apps like Periscope and Youtube livestreams, it was only a matter of time before Facebook jumped on the wagon. Ultimately, it's a very smart move - Facebook is the most popular social media platform in the world and with the latest #RIPTwitter scandal, it looks to remain that way. With the option to keep your following updated with statuses, live video is the next step and will definitely appeal to the many audiences Facebook draws. 

This function is only available in the US at the moment, but it'll probably head over the pond soon.