Hangouts On Air was initially a feature of Google+ and then was integrated with YouTube. Many users can video chat simultaneously through Hangouts, which can be live-streamed on YouTube.
about the discontinuation of Hangouts On Air and the alternate way for fast and easy streaming suggested by the company is .
One drawback of using YouTube webcam in place of Hangouts On Air is that it supports one camera only, which means multiple users can not take part in the video at a time. The other possible option could be setting up the Live Control Room, using an encoder that allows streaming live.
Along with this, Hangouts Meet is also available that allows public video call, and 100,000 in-domain viewers can watch it. But for now only G Suit Enterprise and G Suit Enterprise for Education are compatible with it.
Consumers will suffer the most with its shutdown as there is no alternate first-party option available, providing same services.
What Google can possibly do right now is to enable multiple users on YouTube or Hangout Meets can be integrated into YouTube. Failing to provide an immediate solution will force Youtubers and podcasters to look for a third-party app.