直播 (zhíbō) means "live broadcast" or "livestream." It combines 直 (direct) and 播 (to broadcast), and is used for any real-time streaming content, from news broadcasts to social media livestreams. It can function as both a noun and a verb.
今晚的演唱会将进行全程直播。
jīn wǎn de yǎnchànghuì jiāng jìnxíng quánchéng zhíbō.
Tonight's concert will be live-streamed in its entirety.
她每天晚上都在网上直播卖货。
tā měi tiān wǎnshang dōu zài wǎng shàng zhíbō mài huò.
She live-streams to sell products online every evening.
数千万观众观看了这场比赛的直播。
shù qiān wàn guānzhòng guānkàn le zhè chǎng bǐsài de zhíbō.
Tens of millions of viewers watched the live broadcast of this match.