Live Video Stream was first added for a limited number of audience in December and will be available soon to all users everywhere as a new menu posting option.
When checked, your Live broadcast will be seen by your followers on their news feed, showing you the number of people watching.
When done, Facebook will save your video on the timeline so people can watch it later on.
The feature rolled out with iOS users ahead of Android in the initial phase, so perhaps expect the same thing here too.
Source [ Engadget ]