I am evaluating the Wowza to stream VOD and Live content to iPhones/IPad. By reading Wowza docs, i came to know that to do HLS (HTTP Live Streaming), one only needs to have .mp4 file because on getting request from iPhone, Wowza automatically converts the .mp4 into .ts file and create .m3u8 file.
Everything is working fine as mentioned. But after the end of call, i did not find the .m3u8 file and .ts files for requested stream on hard drive that is being made/generated by Wowza.
Segments are assembled in memory and sent directly to clients without being saved to disk. That is how it works at present.
This is unicast streaming, so each client is served separately whether it is HTTP, RTSP or RTMP. However Wowza has efficient ways of packetizing a live or vod stream, so Wowza is not packetizing separately for each client, but each client is served separately.