The Media Source Extensions API (MSE) allows streaming audio/video playback in HTML. It's used widely today, including YouTube and Netflix. JavaScript libraries like Dailymotion's HLS.js can remux container formats on top of MSE, so you don't need native support for HLS in desktop browsers.
I used HLS (native in iOS and Edge) as well as hls.js and it works good if you use the correct codecs. A drawback is that through it's HTTP file based distribution it's not really low latency (live). A UDP based streaming protocol could for sure do better.
A UDP-bsaed streaming protocol for video would produce some crazy artifacts if packets are dropped or reordered, unless you put I-frames in very frequently (which would significantly increase the bandwidth requirement).
https://developer.mozilla.org/en-US/docs/Web/API/Media_Sourc...
http://engineering.dailymotion.com/introducing-hls-js/