Yes, local accounts are those that exist - are/have logged in - on the same console, whether created there or elsewhere.
The Playstation Plus subscription is tied to the SEN account, but that account can specify a single PS4 console as its primary PS4, which enables other (non-PS+) accounts to access everything on the console.
So any account using that console (the one specified as the primary by at least 1 PS+ subsriber) can enjoy the benefits of PS+, when using that console. That includes multiplayer.
I assume though that multiplayer is not available to local accounts if you are online and playing multiplayer on someone else's console. That part isn't exactly clear. But your (non-PS+)family members / housemates could definitely play multiplayer on your console with only your PS+ subscription when you're not using it.
This FAQ on playstation.com is fairly detailed:
PlayStation 4
You can activate one PS4™ on your Sony Entertainment Network account
(this is known as your Primary PS4) and temporarily activate a second
PS4 on your account.
PlayStation Plus benefits available to other non-subscribing users on your Primary PS4:
- Online multiplayer (subject to any parental control settings on sub-accounts)
- Play downloaded games purchased with PlayStation Plus discount
- Play downloaded IGC games
PlayStation Plus benefits not available to other users on your Primary PS4:
- Purchasing PlayStation Plus discounted products from PlayStation Store
- Online game save storage
- Auto patch download
- PlayStation Plus exclusive early access to game trials
PlayStation Plus benefits available to you on a non-subscribing friend’s PS4:
- All of your PlayStation Plus membership benefits are available to you when you use a friend’s PS4.
PlayStation Plus benefits available to your non-subscribing friend when you use their PS4:
- Play downloaded games purchased with PlayStation Plus discount
- Play downloaded IGC games
PlayStation Plus benefits not available to your non-subscribing friend when you use their PS4:
- Online multiplayer (subject to any parental control settings on sub accounts)
- Purchasing PlayStation Plus discounted products from PlayStation Store
- Online game save storage
- Auto patch download
- PlayStation Plus exclusive early access to game trials
When you sign into your Sony Entertainment Network on a friend’s PS4
the system is temporarily activated on your account. Please ensure
that you correctly sign-out of “PSN” on your friend’s system to keep
your account secure.
If your “PSN” account is inactive on your friend’s PS4, the system
will be deactivated automatically from your account and your friend
will lose access to any of your downloaded content. This content can
be deleted from their system hard drive by going to Image (Settings) >
System Storage Management > Applications. Next, highlight the game to
delete and press Options > Image (X button).
Source: http://faq.en.playstation.com/app/answers/detail/a_id/5030
There isn't that much detail to go into this with. Plain in simple you can only (currently) do a live stream over twitch or the other one, which is not currently syncing in my brain..... So you have two options for now which is twitch or the other. Though you could take clips with the share button and show them like 15 minute segments via facebook or something, but this will take a lot of uploading time.
Best Answer
Yes, there is a way to see all accounts for services that you've linked to your PSN account. Each user on the console is able to link accounts to services as they choose, so you aren't limited to one account per console per service. However, each user can only see their own account links. To see these linked accounts, here are some directions.
From your home screen, go to your Settings:
Then, go to "PlayStation Network/Account Management":
From there, go to "Link with Other Services":
Once there, you'll see a list of a bunch of services you either have or are able to link with your PSN account. The ones you have linked are marked with a check mark:
If you click on a service that you've linked to your PSN account, it will display the account you've linked for that service. For example, YouTube will tell you the name and email of the account you've linked to your PSN account.