Facebook is looking to take on the likes of Snapchat and Periscope with the launch of a new streaming video service that lets users share content with their friends in real-time.

Live Video on Facebook allows users to share video via their status updates, similar to how they would upload photos, meaning you can share anything from tourist shots to the latest cooking adventure.

Users will also now be able to group together photos and videos taken around the same time to create Collages to share with friends, combining photos and videos to create a scrolling collage similar to a Snapchat story.

facebook live videoLive video can be shared simply by tapping on Update Status and then selecting the Live Video icon, with the option of writing a quick description and selecting exactly who can view the content, which is saved to their timeline much like previous video clips.

Users will be able to view the number of live viewers, the names of friends who are tuning in, and a real-time stream of comments. Live videos will also be shown in a userís news feed, where they can also subscribe to be notified the next time that broadcaster goes live.

Live Video on Facebook is now being trailed in the US among a small number of iPhone users, with Facebook planning to roll out the service to a wider audience early next year.