PeerTube, the Fediverse's alternative to YouTube, uses peer-to-peer technology so that anyone can host their own video service without any data centres.
You can find out more at https://joinpeertube.org
PeerTube also now includes support for livestreaming.
You can run your own instance without technical knowledge by using a managed hosting service such as https://federation.spacebear.ee
You can follow PeerTube accounts from Mastodon because they are both part of the Fediverse.
When viewed from Mastodon, PeerTube accounts look and work like Mastodon accounts. However, if you click on their profile image you will see their PeerTube page.
For example try going to @pianotv on Mastodon and click on the profile image.
There's a list of interesting PeerTube accounts to follow over on FediFollows:
Some good PeerTube instances with interesting content to explore include:
When you're browsing a PeerTube instance, you can follow an account by clicking on "Subscribe". This works even if you don't have a PeerTube account, because it allows follows from Mastodon too.