YouTube is continuing its push into the live video streaming realm, despite assurances it gave last year that it wouldn’t enter the space because it was too expensive.

The Google-owned video website has streamed the Outside Lands concert and an Obama press conference in recent months, but now it’s going to stream the Rose Bowl concert of one of the world’s most popular bands: U2

The live streaming event, which begins on Sunday, October 25th at 8:30 PM PT, will be available in 16 countries. The live feed will be available on the U2 Official Channel, and feature a live Twitter (

) feed of chatter about the concert, exactly like what the company did for its full-length viewing of Taxi Driver.

The world’s largest video website, in a conference call earlier today, explained that it is seeking to experiment in live video. Clearly, YouTube (

) sees some type of potential in this emerging market, as live video players Ustream (

), Justin.tv, and Livestream have started to prove the viability of this market.

A U2 concert is one of the best events to live stream, in our opinion, given the band’s massive popularity. The question we’re still asking is: What exactly is the company’s plan with live streaming? In the meantime, we want to know: will you watch the concert? Let us know in the comments.

Being a huge U2 fan I’m there. I just wonder if they are going to live stream it to the iPhone as well? I know that YouTube has said that it is to costly to do this on a regular basis but really? Come on… If there is any company that could do it then it would be YouTube.

Are you going to watch it?