Live video service seems to be the next big thing. Yahoo-owned content discovery website Tumblr reportedly is all set to commence its live video streaming service later this week.

The blogging platform has posted a series of teaser Gif images on its website about an event it is hosting on June 22.

The Gifs also hint at the company's streaming plans. Tumblr, the Yahoo-owned blogging platform, said Tuesday it was launching live video to help compete against similar offerings from Facebook and Twitter.

"By the end of today, you'll be able to broadcast yourself directly into your followers' dashboards," said a Tumblr statement.

"And they'll be able to broadcast themselves directly into yours. We trust you all to be beautiful, weird, compelling, and just generally Tumblr about this whole thing."

"The company also says that it's working with a number of media partners who will be live streaming live content and events to Tumblr's service, such as Mashable, Refinery29, MTV, The Huffington Post and others.

In total, 15 partners have committed to publishing live videos on Tumblr, and more are being added," Tech crunch Said.