YouTube, being the world's most popular free streaming service is free, as long as you accept ads, as a viewer.
What this means is that every user has the option to pay approx. $20/month for ad free viewing.
Although not the most optimal (because of ads), every client that I work with has their own free YouTube channel. This includes my clients such as UCLA, City Of Hope, Kaiser Permanente, LACNETS, NETRF, Cedars Sinai, Hoag Cancer Institute, Fox Chase Cancer Center, University of Chicago, Mercy Hospital, and many more.
The simple fact is that most all users know that just before a program starts, YouTube will intrinsically insert two random ads, that of which any user can chose "SKIP" after 5 seconds of ad play. This is considered the norm and completely accepted over a dedicated PAID service that starting costs of about $1500./day for ad-free streaming. This cost does not include any production at all. It's simply an up-front cost for a dedicated server on a site like Live Stream or Ustream.
Also, going through a paid service for ad-free is much more intense behind the scenes and can get really complicated. There is no extra fees due to YouTube, no matter what traffic you use. I've had 5000 viewers at the same time with no issues whatsoever and no fees due. Honestly, I haven't been asked to use a paid server since 2018, as YouTube's free service makes so much more business sense for all.
A couple things to note, is that if you haven't streamed yet on YouTube or don't have a channel up yet, you will have to first establish a channel with several videos and a minimum of viewers before they let you stream with pro-gear. They vet many of new streamers to make sure you're technical and content is up to par. New users have a resolution quality and a max. streaming time limit as well.
If you haven't established a channel, then you should simply use one of ours (included free of charge as long as we're producing the stream).
As far as the viewers are concerned, they are just clicking on a random link, so it really doesn't matter which way you get there, but it is highly recommended that each company and entity have their own channel at some point. It's just an extra tool as part of doing good business.
Here's a short article that can help: Comparing YouTube Live vs Paid Video Platform Alternatives