The company that pushed podcasts from our earbuds to our television screens is making another wager.

YouTube believes livestreaming is “at a similar inflection point” as video podcasting was roughly four years ago, and is primed to become a “cultural phenomenon,” said Toni Reid, a vice president of product management at the company.

On Tuesday, the platform announced its most significant product updates to livestreaming since late 2013, when it began offering creators the ability to broadcast in real time. The updates make it easier for novices to start streaming, for experienced streamers to try new formats and for everyone to make more money from advertising.

YouTube’s vote of confidence is yet another sign of the appeal of live programming to new media companies, whether through promoting user-generated content, or buying up broadcast rights for Formula 1 races or awards shows. Platforms want to maximize active screen time; YouTube’s biggest competitor, Netflix, is also chasing glory in live sports and competition events. (YouTube just aired its first N.F.L. game.)

More than 30 percent of YouTube’s daily registered visitors watch some live content, according to the company. It’s the most popular platform for livestreaming, followed by TikTok, Twitch, Kick and Rumble.

And yet livestreaming remains relatively niche by mass audience standards. “We are still in the early innings,” as Rumble’s chief executive phrased it last fall. The format was pioneered by gamers, who are holding strong as other categories rise.

Last year, millions tuned into the U.S. presidential debates through online streams, including those hosted by chattering political influencers. In Germany, the football league Bundesliga just awarded live broadcasting rights to a few sports commentators on YouTube.