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I used broadcasting on Ustream. But it should be the same. You can allow or disallow Mic and Cam. You can record your mic on the video saving video function. The stream quailty settings are high, medium, low. No fine tunning. Bitrate, FPS, colors etc. You can't create sub channels. You can only do that on the Ustream site. But you can change the title and decription from the PS4.

15 min HDD saves are still allowed. But no chat window recording. Also, no lag while playing the game. But saved recordings have some framerate issues when you broadcast at the same time. The system might be changing the recording FPS to 30 instead of 60 in this situation. Broadcasting got stuck on preparing. But I just shut it off and on. This cleared it. Show the comments/your video to the people watching. There's a 20-40 delay in comments showing up. And the chat room shows 0 viewers. Even though I had 20. You can't tell Ustream to record the live show.  And no webcam of mine worked with the PS4. But the PS Cam will work. So I couldn't test the video portion of that. Oh, and broadcasting doesn't need PS+. I don't have one.

I was playing Injustice.