Yes, using prerecorded videos for live streaming is completely legal and allowed by all major social media outlets like Facebook Live, YouTube Live or Periscope. Depending on your use case it might be a good idea to let your viewers know that the video was recorded earlier, for example, by mentioning it in video description. OneStream is approved by Facebook, YouTube and Periscope. During approval and verification process, OneStream's functionality, its use cases, prerecorded video streaming and every other aspect was thoroughly checked and vetted by the Social media platforms we intended to use for live streaming (in our case Facebook, YouTube and Periscope). Only, after obtaining all the necessary approvals and going through necessary tests was OneStream opened for public use. Therefore, you can use OneStream without any hesitancy.
Live streaming prerecorded videos is definitely a new concept and it will take time before it sees a wider adoption. In cases where you do not need to personally interact with audience e.g a music show, an interview etc. prerecorded video live streaming is an excellent choice to enhance your ratings on Social media. You can read our detailed blog about the pros of live streaming with pre recorded videos here.