Step 3. Select the FLVPlayback component on the Stage and open the Properties panel in Flash CS4 (or click the Parameters tab in Flash CS3). Double-click the source parameter and input the URL of the live stream rtmp://localhost/live/livestream. Click OK to finish this setting. Now you have told Flash where to get the live stream source data, but you haven't told Flash to play the live stream (see Step 6). Step 4. Select the FLVPlayback component on the Stage. In the Property inspector, name the instance myVideo. Step 5. Add a new layer to the live streaming video and name it actions (see Figure 2).