Peter uses Google Hangouts as an ad-free alternative to UStream. His problem is that the link keeps changing so he can't just embed the same link onto a website. Leo says that's by design because each episode is saved to YouTube. He could post the channel and the latest video saved would show up. Outside of that, he may just have to re-edit the page every time.
The chatroom suggested a little work around from Singly.com. It involves using Google+ Events, and creating an event far into the future. The link will stay the same until after the event has expired, allowing use of the same Hangouts link.