Streaming Live Video to iOS and Android?

Hello,

I'm looking at building an app for Android and iOS that would incorporate a live video feed. I've looked into possible options, and it seems a lot more troublesome than I initially thought it'd be. Is there any solution that would work both on both platforms? Do I have to use multiple streams from a media server, e. g. Adobe Media Server? Isn't it required by Apple to use HLS protocol? Can the same thing be used on Android? What type of delay/latency could be achieved? What type of results can be expected from Air?

Also, would it be possible to load a youtube stream directly into an Air app? I know it can be done with a normal YouTube video, but I couldn't replicate the same with a stream. Not sure a webview could be any better.

I'd really appreciate any tips or guidelines.