@measlytwerp@fosstodon.org Found this through a birdsite thread started by @gravislizard@twitter.com:
Server/Website: https://github.com/calzoneman/sync
Stream set-up: https://internetpro.me/computers/2018/09/14/hls-streaming-with-nginx-that-works.html

I have no idea how it works exactly, and I doubt it's federated or scales well, but it might be worth a look?