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Ustream just let us know that Apple has approved its live-streaming application for the iPhone. This isn’t a huge breakthrough, since the video is only available over Wi-Fi and not 3G, but it’s a nice bit of timing for the startup given the demand expected for live video of the Obama inauguration tomorrow. Ustream’s coverage will be located at this link.
Apple (s APPL) and AT&T (s T) are keeping a tight lid on approvals of apps that stream video over 3G cellular networks. That hindrance, as we’ve commented repeatedly, essentially disallows actual mobile video — besides YouTube — on the popular platform. Ustream said in an email to “stay tuned for developments” regarding further availability of the app, but that doesn’t really mean anything. Ustream is also trying to get a video capture app approved…good luck with that!
Personally, I finally hopped on the iPhone bandwagon this morning, so I’ll certainly be checking the Ustream inauguration stream out myself.