Sony revealed as part of today's comprehensive PlayStation 4 pre-release FAQ
that the console will not allow content sharing via YouTube at launch, though support for additional video-streaming services is in the works.
At launch, the PlayStation 4 will only be capable of sharing recorded video via Facebook, while gameplay footage can be streamed via Ustream or Twitch. Sony did not completely rule out the possibility of YouTube support being added in a future update, however, as it hinted that PS4 owners should be on the lookout for "further news on other services to come after launch."
Sony additionally notes that Ustream footage will not be saved for later playback. PlayStation 4 stream archiving is only available for Twitch users, and can be enabled via Twitch's website.