Kyte.tv, a new service that launched today, allows users to create their own channel to broadcast across the net. Sharing your activities with others is becoming a hot playground for startups these days. Twitter arguably was the first to ignite this craze by allowing users to share their activities with others via sms (micro-blogging). Then came Atten.tv, a service that allows you to record your click stream and upload it to their servers where viewers could opt in to view it and see what you are doing on your PC. Kyte.tv, the latest entrant in this space, brings even more interactivity by allowing users to share all forms of media from photos-to videos with people around the world.

The primary differentiator between Kyte and other services in the space is its multimedia capabilities. Kyte allows users to display photos, videos, music and polls in your shows. Everyone can create a channel and start broadcasting his personal life right away. Channel owners can also enable live chat, and all the previous shows of your channel are displayed in a horizontal menu bar below the screen. There are several permissions and privacy options for each channel to choose from, allowing you to display your content to the general public or just to your friends. Channels could also be embedded anywhere on the web.

The content added to the channel will be broadcast to everyone in real time. A red blinking dot will appear on the top left of the tv screen to indicate that the content is being streamed in real time. Kyte also shows you who else is posting your content on their site, and has trackbacks to inform you about the people viewing your channel. Content publishers can also co-brand their channels to show their logos, customize background image, and even display text description of their choice. Content can be posted-to and received -from the channels via any java enabled mobile phone.

The service is basically a media player, built on Adobe’s Flex 2 platform, where as the entire backend is written in Java, allowing the service to be almost real-time. For watching Kyte.tv you might need to upgrade to the latest version of Flash.

Kyte.tv is backed by a solid team of investors including Draper Richards, Draper Fisher Jurvetson (Hotmail and Skype investors), Niklas Zennstrom(Kazaa, Skype and Joost founder), and Ron Conway(angel investor in Google). Decentral, the company behind the service has raised $2.25 million to try and make some splash in this space.

The service is yet another push towards truly user generated content, yet another nail in the coffin of old media publishing methods and yet another marketing gold mine to be explored.