Amazon acquired a company called Elemental back in 2015 and has now released a suite of products to help broadcasters (big and small) distribute and syndicate video online. Think of Elemental as Amazon's in-house solution to Adobe's defunct Flash Media Server and Wowza's cloud-based solutions. The idea is simple yet powerful, provide a one-stop shop for encoding, packaging, delivery and monetization in just a few minutes.
Like all AWS products, Amazon will manage the servers for you and you only have to pay-for-what-you-use.
Elemental offers a suite of different products but they're sort of hard to understand so here's my plain-English breakdown.
If you are a broadcaster (such as a radio station) with a 24-7 channel and your goal is to distribute it live online, then you can encode your live feed using MediaLive. MediaLive is a live transcoding service that you will later publish to MediaPackage.
MediaPackage is a real-time transcoder that I would describe as the competitor to Telestream. Basically, if you have a single video and you want to package it different devices and use cases, this is the tool.
If you are a new radio station and you're looking for something more affordable than Stream Guys or Triton Digital to distribute to different devices, then use MediaPackage. MediaPackage will prepare your feed for iOS (HLS format). Android (M3U) or even xBox(smooth stream).