Livestream, formerly Mogulus, have released a set of open APIs for the service expanding the ability to integrate it into your online video strategy. Plus the service is also now able to integrate its live streaming with the Brightcove video player.

Livestream just announced earlier this week that the new APIs and the integration with Brightcove. This new set of features allows Brightcove users to use their pre-existing players and incorporate live streaming video feeds. We’re told that they’re also working on plug-ins for other popular players including Longtail’s JW video player and the new Adobe Open Media Framework.

This means that live streaming will be readily available to a wide range of users without the need for them to work with new providers or players. The live streaming can also include multiple ad formats for monetization and more. Helping pave the way for this release via the latest beta testing was C-SPAN who used it to cover the recent Supreme Court nomination as well as which adds live video feeds into Twitter accounts.

The new APIs allow for both Free and Premium service users to integrate the live video feeds into already existing players online. Plus you can build new players and libraries of video clips in a variety of environments including Flash, HTML and Adobe Flex. The APIs include a Live Publishing API, Guide API, Account API and Chat API.

The Brightcove integration was done jointly and the plug-in gives both live and linear video capabilities via Livestream for the Brightcove player. The plug-in integrates seamlessly within any Brightcove player template, thus providing the same user experience and leveraging the monetization, analytics and asset management already in place with the Brightcove platform.

This could open wide the door for new, interesting live streamed shows from around the world that incorporate Brightcove and Livestream technologies but also allow for monetization of the content as well as analytics to allow the live streams to be optimized over time to attract more users and advertisers. It could turn out to be just the thing we needed in this regard. Depending on how easy it all is to setup and use of course.

It’s an interesting partnership that could yield great rewards for all involved in the projects.